Besides generating a predictable impact on trade between the two countries, the FTA brings Panama closer to the Pacific Alliance, a block which has already expressed its willingness to integrate the country.
It is estimated that this trade agreement will establish the foundation to create a commercial corridor that allows "... strengthening the position of both countries as privileged platforms for production and distribution of goods and services for both the Americas and for global markets. "
The FTA approved on its first reading by the National Assembly excludes sensitive products such as beef and chicken, dairy, pork, palm oil and plastic products, paper and aluminum, among products.
The bill for ratifying a trade agreement with Mexico excludes agricultural and agro industrial goods which are sensitive to Panama ; such as chicken meat, eggs, dairy products, pork, pork sausages, coffee, wheat flour, rice, palm oil, sauces, tomato paste, potatoes, onions, sugar, juice, fruit drinks, soda plastic products, paper and aluminum.
The pre fifth round meeting has finished with the parties having reached agreements on issues on National Treatment and Access of Merchandise to the Market, Rules and Procedures on Origins and Public Procurements.
The V round of negotiations is scheduled for 18 and 21 March in Panama City.
From a press release issued by the Ministry of Economy in Mexico:
The fourth round has been completed with agreements made on the chapters on Rules of Origin, Investment and Financial Services.
The delegations from both countries agreed to hold a fifth round of negotiations from 18th to 21st March in Panama City.
From a press release issued by the Ministry of Economy of Mexico:
The Governments of the United Mexican States and the Republic of Panama have concluded a fourth round of negotiations for a Free Trade Agreement (FTA). This round of negotiations was held in Mexico City from 4th to 7th February 2014 and was led by Deputy Minister of International Trade Negotiations of Panama, Diana Salazar and Assistant Secretary for Foreign Trade of Mexico, Francisco de Rosenzweig.
The temporary entry of business people, and sanitary and phytosanitary measures are among the topics to be discussed at this meeting.
From February 4th to 8th in Mexico City, a fourth round of negotiations will be held for the signing of an FTA between Panama and Mexico. Some of the topics to be covered in this new round are: temporary entry of business people, sanitary and phytosanitary measures, intellectual property, and others.
Market access, rules of origin and procedures, public procurement and services and investment will be discussed in a mini round of negotiations in Panama City.
From 13th to 17th of January a mini round of negotiations for the signing of the FTA with Mexico will be held in Panama.
From a press release issued by the Ministry of Commerce and Industry of Panama:
In the third round of FTA negotiations there will be discussions on opening of goods and services and what the tariff exclusions will be.
According to the authorities this is the round with the most difficult issues, such as the issue of "... opening and exclusions of tariff lines especially since there are interests on the part of both countries," noted an article in Capital.com. pa.
The second round of negotiations was described as "a breakthrough" by the Panamanian Minister Ricardo Quijano.
The chief of the Ministry of Trade and Industry said that "during the meeting, held in Mexico from 17th to 20th September, it was possible to advance the discussion and review various topics, including those related to finances and state purchases" , reported laestrella.com.pa.
Negotiations for the commercial understanding between the two nations have started off in a positive light.
Prensa.com reports: "Some of the negotiation issues that were addressed in the first session were: national treatment and market access for goods, rules of origin and procedures, technical barriers to trade and trade defense".
During the round of negotiations held in Panama, also discussed were issues such as e-commerce, cross-border financial services, telecommunications, government procurement, investment, dispute resolution, intellectual property, competition policy, state enterprises and institutional issues.
The current total amount of Mexican investment in Panama exceeds $2 billion, an amount that is expected to increase with the signing of the FTA for which negotiations have started.
From a press release by the Ministry of Commerce and Industry of Panama:
From July 30 to August 2 , the First Round of Negotiations in the subscription of a Free Trade Agreement between the Republic of Panama and the United Mexican States will be held at the Radisson Summit Hotel & Golf Panama Panama City.
Panama's aspiration to join, as a full member, the Pacific Alliance has led to the resumption of negotiations which were interrupted in 2003.
The two nations have the first round of negotiations scheduled for 27 July in Panama City.
Prensa.com reports: "Although in 2003 the negotiations for an FTA were suspended because of differences over tax issues when the talks were 80% advanced, the Minister of Trade and Industry, Ricardo Quijano, said that the process "will start from scratch".