Micro 4/3 Lens Question: Two Different Goals and Applications

I cannot comment on a lens for product photography.

For travel photography you did not mention a tele so I guess you do not need one (like me). A good option would be a 14-42 Panasonic kit lens plus a 20mm 1.7. The 20mm pancake has the advantage that it fits in your pockets in any case and that it adds the speed to your collection if needed. In addition it is still one of the sharpest lenses for mft. Plus with the Pancake the E-M5 still fits into most coat pockets. The 60mm would add a nice short tele option to this setup. 20+60 is a nice setup on its own.