Asinta Business Etiquette Insight: Panama
Is your company looking to set up a new business in Panama? Here are some useful business etiquette insights to help guide you in the right direction:
a) Spanish is the official language in Panama and the main one used for business. If you are going to be dealing with a Spanish company, rather than an international company, then it is a good idea to have at least conversational Spanish skills, although most business people are bilingual. Where possible, try and have your business card printed in both Spanish and English – exchanging business cards is common practice when you first meet an associate.
b) For meetings, you will be expected to dress conservatively in a business suit. Punctuality is important even though Panamanians are generally quite relaxed and you may be kept waiting. Meetings start with a lot of small talk before getting down to business, but make sure you avoid any topics relating to politics or religion! It is best to allow your host to begin the discussions.
c) Whilst the USA has had an extensive influence on Panamanian culture, it is important to bear in mind that Panamanians have a high regard for respect, a conservative approach and professional manners. Be sure to take this on board and act appropriately in any business situation – you will stand a far better chance of achieving a successful outcome.