Real Progress for FTA Between U.S. and Panama

The FTA jumped the first hurdle in the U.S. Congress, having been approved by the committee in the first round with 32 votes in favor and only 2 against.

Thursday, October 6, 2011

The Committee on Ways and Means of the House of Representatives yesterday approved the U.S. Free Trade Agreements (FTAs) with Colombia, Panama and South Korea, with 24 votes in favor and 12 against in the case of the South American country, 31 against 5 in the case of the Asians, and 32-2 for the Central American country.

Trade agreements must now be approved by the plenary of the House and later by the U.S. Senate.

A U.S. Treaty had been signed with Colombia in 2006, and two with South Korea and Panama in 2007, but resistance by North American pressure groups opposed to these agreements, delayed them being sent to Congress for ratification, until now.

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U.S. Trade Agreements

October 2011

The approval of the US-Panama FTA. brings to the fore the urgent need to increase competitiveness in the economy in order to reap the real benefits of that agreement.

When the economy of the United States and those in the rest of the world were booming, free trade agreements offered an immediate benefit in increased business transactions benefiting from the tariff preferences established in them.

U.S. Ratifies FTA with Panama

October 2011

Both houses of the U.S. Congress ratified the Treaty of Trade Promotion with Panama and other countries.

A press release from the Presidency of the Republic of Panama reads:

Panama’s growing economy growth saw years of effort pay off, especially under the current government administration, after both houses of the U.S. Congress ratified the Trade Promotion Agreement (TPA) with Panama and other countries.

Imminent Approval of Panama-USA FTA

October 2011

Along with free trade agreements with South Korea and Colombia, Panama’s agreement with the USA will be approved this evening in the U.S. Senate.

These trade agreements were negotiated and signed during the administration of President George Bush, but lacked, until now, the support needed for approval in Congress.

Panama - USA FTA Goes to Congress

October 2011

The U.S. President has sent the Free Trade Agreement negotiated in 2003 with Panama to Congress for ratification.

Along with the FTA with Panama Congress will also receive ratification requests for FTAs with Colombia and Korea.

Mario Jaramillo, Ambassador of Panama in Washington, inidcated that they have the necessary votes for approval in Congress and a vote is expected "very promptly."

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