As the first visit to Viet Nam by a Panamanian head of state in 14 years, the official visit marks an important milestone in bilateral relations, particularly as the two countries celebrated the 50th anniversary of their diplomatic ties in 2025.
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National flags of Viet Nam and Panama (Photo: vietnamplus.vn) |
Despite the geographical distance, Viet Nam and Panama have built a sound relationship based on shared values, including respect for independence, sovereignty, and territorial integrity, adherence to the U.N. Charter and international law, and a shared aspiration for peace, freedom, social progress, and justice. The two governments and peoples have also maintained solidarity and mutual support in the struggles for national independence and sovereignty. Notably, Viet Nam was the first country to sign the Protocol on the Permanent Neutrality and Operation of the Panama Canal in 1979.
Over the past years, bilateral ties have been continuously consolidated through delegation exchanges, contacts at all levels, and various cooperation mechanisms. The two countries have signed a number of important documents, including a memorandum of understanding on establishing a political consultation mechanism between the two foreign ministries in October 2012, an Agreement on Economic and Trade Cooperation in April 2013, an Agreement on the Avoidance of Double Taxation in August 2016, and an Agreement on Visa Exemption for ordinary passport holders in June 2019.
Along with sound political ties, economic and trade cooperation remains a bright spot. Panama has consistently ranked among Viet Nam’s top 10 trading partners in Latin America. In 2025, the two-way trade reached USD 478.1 million, up 19.2 percent year on year. Viet Nam exported USD 462.6 million worth of goods to Panama and imported USD 15.5 million worth of goods from the country. Viet Nam’s key exports include footwear, phones and components, computers and electronic products, textiles, transport equipment and spare parts, and seafood, while imports from Panama include wood and wood products, seafood, and various raw materials.
As of May 2026, Panama had 14 valid foreign direct investment (FDI) projects in Viet Nam with the total registered capital of USD 52.4 million, ranking 59th among 154 countries and territories investing in Viet Nam. The two sides also hold considerable potential for expanding cooperation in agriculture, telecommunications, infrastructure, maritime transport, aviation, banking, education and training, and green energy. They aim to make full use of the Panama Canal as a gateway for their goods to gain deeper access to Latin American and Asia-Pacific markets, contributing to the security of international supply chains.
Amidst rapid and pivotal developments in the regional and global landscape, Viet Nam and Panama seek to draw closer through their roles as “two connecting gateways.” Viet Nam serves as a gateway for Panama to ASEAN and the broader Asian market, while Panama can serve as a bridge for Vietnamese goods to enter Latin American markets.
President José Raúl Mulino’s official visit to Viet Nam is expected to create strong political momentum at the highest level, helping translate shared potential and agreed orientations into concrete cooperation programs and projects. The visit is expected to further promote economic, trade, and investment cooperation while expanding collaboration into promising fields such as culture and education, tourism, logistics, banking, telecommunications, security, science and technology, and people-to-people exchange. Cooperation documents expected to be signed during the visit will provide an important legal foundation for the stable, substantive, and effective development of bilateral ties.
With a traditional friendship spanning more than half a century and positive cooperation results in recent years, it is believed that President José Raúl Mulino’s official visit to Viet Nam will be a success, contributing to consolidating political trust and elevating the bilateral relations to a new height.
Translated by Minh Anh