Above: Panama President Ricardo Martinelli in Madrid (Photo: OP Panama)

By the Caribbean Journal staff

Panama President Ricardo Martinelli concluded his trip to Spain this week with a meeting with the country’s leadership.

Martinelli is closing up his term in office, with Vice President Juan Carlos Varela said to assume office in July following his victory on May 4.

On Wednesday, Martinelli met with Spanish Prime Minister Mariano Rajoy, discussing the positioning of Panama as a banking and connectvity hub in the Americas.

Martinelli spoke to Rajoy about Panama’s “major advantages for businesses” who want to set up their regional headquarters in the country, pointing to advances in education, transportation and social security.

Rajoy and Martinelli both pointed to the importance of bilateral relations between the two countries.

Following their meeting, the two, joined by Panama First Lady Maria Martinelli, visited the La Zarzuela Palace in Madrid, where they had a luncheon with the Spanish royals including Prince Felipe de Bourbon.

Martinelli began his term as president in 2009.