President of Panama and Costa Rica sign FTA

Panamanian President Martin Torrijos will travel to Costa Rica on October 24 to sign the FTA between the two countries.

Friday, October 24, 2008

The sign ceremony for the Free Trade Agreement between both countries will be held at the Presidential House in Costa Rica.

Torrijos will be accompanied by the minister in charge of Commerce and Industry, Severo Sousa, and the Panamanian delegation will be join by the first Panamanian vice president and foreign minister, Samuel Lewis, who has been on a visit to the US.

In total, trade between the two countries surpassed $400 million in 2007, in favor of Costa Rica.

Panama signed an agreement framework for free trade with Central America in 2002, and the first bilateral protocol was signed with El Salvador in 2004, with Honduras in June 2007 and with Guatemala in February 2008, with the one with Nicaragua pending ratification.

More on this topic

Costa Rica: Exporters Do Not Achieve Expected Goals

June 2009

The expected growth projections for Panama that emerged after the ratification of NAFTA have not been achieved.

The vice president of the Chamber of Costa Rican Exporters (Cadexco), Sergio Navas, attributed one of the causes to the economic crisis but he also recognized that they should improve logistics systems.

Costa Rica approves FTA with Panama

October 2008

The full session of Congress unanimously approved the Free Trade Agreement (FTA) with Panama yesterday after the second reading and debate.

In order for the project to become law it must first be signed the president of the Republic, Oscar Arias, and published in the government Gazette.

Costa Rica endorses FTA with Panama

October 2008

The Constitutional Court endorsed the FTA with Panama after finding no conflicts with the Constitution; the project will be voted on in Congress in the next few days.

The ruling issued by the Court indicates that "there are no essential vices in the proceeding of said project" nor in the details of the agreement.

Costa Rica approves FTA with Panama in first debate

August 2008

Legislators have to ratify the decision in a second round of voting once the period of ordinary sessions start next week.

The agreement signed by both countries in September 2007 came in to effect for the Panamanians last December, hence the Costa Rican productive sectors have been pressuring Congress to approve the agreement.

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