Visit to Panama and Cuba

I have completed productive visits to Panama and Cuba, two nations presenting significant commercial opportunities for Australian business.

With Panamanian Acting Foreign Minister Hincapié and the Deputy Ministers for Commerce and the Environment, I discussed trade and investment opportunities in one of the fastest growing economies in the world over the last decade, and its important role as a regional logistics and services centre.

I visited the recently expanded Panama Canal, which is significantly enhancing global connectivity and trade between the Asia-Pacific and the Americas with its capacity for much larger vessels.

I also visited Australia's First Quantam copper mine, the world's largest greenfield mining project and second largest project in Panama after the canal.

In Cuba I met with Vice President Cabrisas, Foreign Minister Rodriguez, and Mining and Energy Minister Lopez and discussed the Cuban Government's economic reform program and the opportunities for Australian businesses. We identified a number of sectors with potential for collaboration, including mining and exploration, renewable energy, medical and veterinary research, biotechnology, tourism, food production and manufacturing.

I signed an MOU on enhancing diplomatic consultations with Foreign Minister Rodriguez. We also discussed potential medical cooperation within the Pacific and Australia's growing cultural, sporting and scientific links with Cuba.

We welcomed the joint initiative of the Australian and Cuban baseball associations for an annual Australia-Cuba baseball series, potentially starting in 2018.

My visit to Cuba's Biofarmacuba identified opportunities for collaborative research, particularly in the fields of melanoma and diabetes treatment, and tick eradication.