President Chen Shui-bian (陳水扁) said on Tuesday that Taiwan offered to assist with the Central American country's plan to widen the Panama Canal.
Chen made the remarks during a meeting with the Panamanian president-elect, Martin Torrijos, who was sworn in yesterday.
Chen said that trade between Taiwan and Panama hit US$140 million in the first six months after the FTA took effect on Jan. 1 this year, with Panama's exports to Taiwan increasing five times during the same period.
Chen said the amount has surpassed the total trade volume of last year, which he said shows that the FTA is very helpful to the development of bilateral trade and economic ties.
Taiwan enterprises now maintain investments worth US$1 billion in Panama, the president said.
In addition, Chen said Taiwan is willing to assist with Panama's plan to widen the Panama Canal because it is important to many Taiwanese businesses including Evergreen Marine Co and Yang Ming Marine Transport.
But Torrijos said the plan, which was one of his campaign promises, has yet to be finalized because of the controversial nature of the project.
Torrijos said a referendum might be held to let the people decide whether to go ahead with the expansion.
Chen on Tuesday also called for closer bilateral ties between Taiwan and Brazil, particularly in business and trade exchanges, while meeting with Brazilian Vice President Jose Alencar unexpectedly on Tuesday evening at the same hotel where the two dignitaries were staying.
For his part, Alencar told Chen that he has for long had great admiration for Taiwan's democratization and economic prowess. Alencar said he has been told by Valdemar Costa, head of the Liberal Party of Brazil, who was with him at the hotel, that he came away with a high regard for Taiwan after visiting the country earlier this year.
Costa, the No. 2 Brazilian delegate to President-elect Martin Torrijos' inauguration, said he visited Taiwan in March of this year, prior to the country's presidential election and met with Chen. He said he was highly impressed with what he saw in Taiwan.
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