DOING BUSINESS IN PANAMABusiness customs and etiquettePunctuality is valued by businesspeople, as is giving your host ample time to plan your arrival. So, you must make an appointment at least a week in advance. When meeting your Panamanian colleagues, a handshake is a normal greeting. Don’t immediately rush into a meeting to talk business. Your associates are more likely interested in getting to know you first. Exchanging business cards is important. If possible, have them printed in Spanish. This applies to any other documentation that you will use for commercial purposes. Executives and general managers are expected to wear suits, while junior executives typically wear panabrisas, shirts left open and worn over pants. Foreign businessmen should always wear dark suits on their first visit, but may later wear panabrisas if their associates do so at the next meeting. Business women should wear fitted dresses or skirts and blouses. As Panamanian women are now moving into higher management positions, women in business should have no difficulty. Be aware of the importance of titles: “Licenciado” for a BA holder; “Doctor” for a doctorate, lawyer, or physician; “Arquitecto” for an architect and “Ingeniero” for an engineer. There are anti-American sentiments felt in Panama. To avoid an uncomfortable situation by saying something that might offend, avoid discussing local politics, the old Canal Zone, and racial issues. Hours of Operation Office hours are generally Monday to Friday, 8:00 a.m. to noon, then 1:00 p.m. to 5:00 p.m. Importance of Relationships Expect to invest a lot of time in developing good rapport and a pleasant, relaxed relationship before discuss business. Establishing trust is a prerequisite for a successful business relationship. Good topics of conversation are football, Panamanian history, literature and places to visit as well as information about your city and region. You will probably need two or three visits to the country before you can hope to do any serious business. Like other Latin Americans, Panamanians value deep, lasting relationships. Time Orientation The clock ticks at a different speed for fun-loving Panamanians. You might find yourself waiting an hour or more for your local counterpart. Visitors should always make it a point to be punctual. Hierarchy, Status and Respect In Panama, a person's status depends more on social class, education and family background than on personal success. Business visitors can enhance their status by displaying a keen interest in intellectual pursuits, dressing elegantly, and staying in the best hotels..