Panama

Panama FIRST ALERT • Panama FIRST ALERT • Panama FIRST ALERT •
January 3, 2007Panama City, Panama
Dear Panama First Alert Reader,
As you may well know, 2006 was a landmark year for Panama. This tiny Central American nation has become a big player on the international scene, what with the approval of the Panama Canal expansion mega-project and the drafting of a long-awaited Free Trade Agreement (FTA) with the U.S. But these events had been in the making for some time—the shocker came in November of 2006, when Panama was elected to replace Argentina on the UN Security Council.
Panama's Time Has Come
Live and Prosper in Panama SeminarPanama City, Panama - January 30-February 1, 2007Learn More
Guatemala and Venezuela waged a very public battle over the temporary seat that had been held by Argentina for two years. After multiple rounds of voting, neither country was able to obtain the required amount of votes to win. On November 1, 2006, the two contenders agreed to step back in favor of Panama as the best possible compromise.
Panama and the UN have kicked off 2007 with major events. For Panama, joining the UN Security Council is just the beginning…the excitement will continue as the $5.2 billion Panama Canal expansion project begins this year.
For the UN, the 2007 turnover comprises not only the temporary Security Council seats, but also the Security Council Presidency and the Secretary Generalship (occupied for the past decade by Nobel Prize-winner Kofi Annan, and now held by South Korea’s Ban Ki Moon).
Panama joined the UN Security Council along with South Africa, Indonesia, Italy, and Belgium, all of which will remain on the Council and participate in decision-making for the next two years. In case you’re wondering, the Council now stands as follows:
Presidency: RussiaPermanent members: the United States, Britain, Russia, France, and China.Non-permanent members (until December 31, 2007): Peru, Congo, Qatar, Ghana and Slovakia.Non-permanent members (until December 31, 2008): Panama, South Korea, Indonesia, Italy, and Belgium.