The Incorporation of Panama into SICA

The Cabinet Council has approved Panama joining the Economic Integration Subsystem of the Central American Integration System.

Wednesday, February 6, 2013

From the press release issued by the Presidency of Panama:

The Cabinet Council approved a project that supports the Protocol of Incorporating Panama into the Economic Integration Subsystem of the Central American Integration System.

The proposal was supported by Cabinet by the Minister of Trade and Industry, Ricardo Quijano, who was joined in his presentation by Diana Salazar, Deputy Minister of International Trade Negotiations.

According to the Deputy Minister, the incorporation of the Republic of Panama to the Economic Integration Subsystem should be seen as a boost to enhancing the strategic alliances with companies in Central America in terms of goods, services and investments. Along with this comes, she said, competitive advantages, transfer of knowledge and technologies, increasing the portfolio of businesses and improving the positioning of the goods and services in international markets.



More on this topic

Colombia Joins SICA As Observer

September 2013

The country is aiming to strengthen links with the region, support integration and increase economic, scientific and technological cooperation.

From a press release by the Ministry of Foreign Affairs in Panama:

Foreign Minister Maria Angela Holguin, and the Secretary General of the Central American Integration System (SICA), Hugo Martinez, signed as part of the 68th Session of the General Assembly of the United Nations, an agreement which formalizes Colombia's admission as an observer of this regional organization.

Mercosur Formalizes Observer Petition in SICA

July 2013

Today the official request was made to join, as an observer, the Central American Integration System, appointing Ivan Ramalho, to act in that instance.

Eleconomista.net reports: "The resolution was adopted by the bloc's foreign ministers, meeting in the Common Market Council (CMC), which prepared the statement later to be signed by the presidents."

Single currency for Central America to be analyzed

December 2008

The SICA summit ended with a declaration that includes a dozen measures that they are seeking to implement in order to deal with the global financial crisis.

DECLARATION
The session ended with the reading of the "Declaration of San Pedro Sula", which sets out the resolutions that the leaders of the region plan to carry out immediately and in the future, within the framework of a series of meetings that SICA will continue to hold next year. The document, which was read by Foreign Affairs Minister, Edmundo Orellana, highlights the integration project called Esquipulas III, the purpose of which is the creation of a Central American Constitution.

Brazil joins SICA as observer

October 2008

This move seeks to intensify the relationship between Brazil and Central America, especially regarding trade and commerce.

With this move, Brazil will be able to participate int he ministerial and presidential meetings of the Integration System and will have to right to participate but not vote, according to the agreement signed at the first meeting of the political consultation mechanism between Brazil and the Central American organization.

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