PANAMA – Tuesday, March 18, 2014 – Governor Deval Patrick addressed CAPATEC,
the Panamanian Chamber of Information Technology and Communications, where he
discussed the many opportunities for collaboration between Massachusetts and Panama
in the innovation economy sectors.

“Lasting growth in the 21st century global economy will come from our
competitiveness in global markets and opening up Massachusetts to the markets where
we share strengths,” said Governor Patrick. “The leaders in business and government
and venture capitalists of Latin America’s growth centers are eager to collaborate
with us because they recognize that Massachusetts is an innovation hub with a
disciplined strategy for growth.”

Read the Governor’s full remarks
here<http://www.mass.gov/governor/pressoffice/speeches/0318-capatec-remarks.html>.

Massachusetts shares a strong relationship with Panama, that has grown since COPA
Airlines added a non-stop flight from Logan Airport to Panama City in 2012 and the
Panamanian government has developed a growth strategy focused on science. In 2013,
Massachusetts imported approximately $4.34 million worth of goods and services from
Panama, and exported approximately $22.5 million worth of goods and service to
Panama.

Prior to the Governor’s remarks at CAPATEC, the Governor met Dr. Ruben Berrocal,
Panama’s Chief Scientist to discuss best practices in using policy to grow an
innovation economy. Panama is Central America’s most competitive economy.

Like Massachusetts, Panama has the talent, the know-how, the skilled workforce, and
the entrepreneurial spirit to compete in the global economy and rely on strong
public-private partnerships to create long lasting economic growth.

Along with a talented innovation economy workforce, Massachusetts is home to
world-class universities, research institutions, venture capital firms, and
financial services communities that help fund and mentor the state’s strong pipeline
of entrepreneurs and attract businesses from around the world. Nearly 40 percent of
the jobs in Massachusetts are in the innovation economy sectors and Massachusetts
has added roughly 50,000 new innovation economy jobs since 2006.

“Massachusetts has been known for centuries for the innovative and entrepreneurial
spirit of its workforce and business community,” said Housing and Economic
Development Secretary Greg Bialecki. “By collaborating with global leaders and
academia, we can ensure the Commonwealth remains a top destination for entrepreneurs
for generations to come.”

Governor Deval Patrick is leading an innovation mission to Panama and Mexico City
from March 17, 2014 – March 22, 2014 with Massachusetts leaders in government and
business to focus on strengthening existing relationships and building new ones with
the emerging innovation economies of Panama City and Mexico City.