Panama-Israel FTA Negotiations to Start

In the first round of negotiations the issues of market access, rules of origin, sanitary and phytosanitary measures, investment and trade dispute settlement will be discussed.

Friday, May 9, 2014

Taking as a basis the Agreement on Economic and Trade Cooperation, signed between both countries in 2010, negotiations will start to establish a Free Trade Agreement (FTA) between the Republic of Panama and the State of Israel on May 11 in Jerusalem.

"Yifat-Alon Perel, director of the Department of Bilateral Trade Agreements in Foreign Trade Administration on the Israeli side said "today, about 65% of Israel's exports are directed to countries with which Israel has a free trade agreement, therefore closer economic relations with Panama will be twofold: From the point of view of opening new markets for Israeli industry, as well as in light of the need to strengthen the position of Israel in Latin America. "

"For his part, the Minister of Commerce and Industry of Panama, Ricardo Quijano, expressed his pleasure at holding this first round because "the negotiation of an FTA is an important aspect of our trade integration agenda, not only for the possibility of opening up an interesting market for our exporters, but because of the affinity with the State of Israel in various areas. "

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