Panama approves FTA with Guatemala
The FTA has already been approved in Panama and is now awaiting debate and ratification in Guatemala.
Monday, November 24, 2008
"When this treaty comes into effect, it will include annexed goods, rules of origin, services and investment, and 94% of our current exports are included in the agreement for immediate access, that is, practically all of our exports to Guatemala, which converts it into a vital support for the national industry," the Minister of Trade and Industry, Gisela Porras, emphasized.
As of June 22, 2009, 93% of bilateral trade will be tariff-free.
Effective beginning today, the free trade agreement will allow 93% of commercial goods to be traded without paying custom tariffs.
During the term of the trade agreement signed four years ago, imports and exports between the two countries has grown by 13%.
An agreement between parliamentarians has pushed forward the ratification process, which was stuck due to the resistance of the sugar industry.
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