The possibility of negotiating a free trade agreement with the trade bloc of South American countries is back on the discussion.
The issue will be discussed in detail at the meeting of the Council of Ministers of Economy of the region (Comieco), to be held in El Salvador on December 5 and 6.
Acisclo Valladares Urruela, Minister of Economy of Guatemala, confirmed to Prensalibre.com that "...
Since Cortizo took office, Panamanian exporters have been concerned about the negotiation of the agreement with China, as they believe the delays could affect the results achieved so far.
It was announced that the National Assembly of South Korea ratified the Free Trade Agreement signed with Central America.
The announcement was made by Seok-hyun Lee, deputy of the Korean assembly, who reported on the evening of August 2: "... We, the Korean National Assembly last night ratified the FTA with the nations of Central America. I hope you will benefit each other."
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. "
In the second round of negotiations held in Panama institutional issues such as dispute resolution, intellectual property, trade facilitation and technical standards were discussed.
From a statement issued by the Israeli Embassy in Panama:
The negotiating teams of the Governments of Israel and the Republic of Panama, are meeting in Panama City from March 2 until today for a second round of negotiations on an FTA.
The main Panamanian products that will benefit from the agreement are dairy, beef and pork, smoked fish fillet with and some vegetables with seasonal preferential access.
From a statement issued by the National Assembly of Panama:
Ratification has been given by the National Assembly, of the trade agreement between Panama and Trinidad and Tobago, after its third reading, in order to expand and consolidate access of Panamanian agricultural and industrial products to the Caribbean.
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:
Once the trade agreement is signed between the two countries tariffs that the South American nation excises on textiles and leather from the CFZ will be removed.
The information was confirmed by President Ricardo Martinelli, after a meeting with his Colombian counterpart. The president said that the trade agreement will be signed next week.
According to Martinelli, the tariff is applied only to countries that do not have an FTA with Colombia.
The current $550 million from the annual sales of Guatemalan products and services to Mexico could double with the entry into operation of the unified FTA between that country and the Central Americans.
Guatemalans are hoping that exports to the Aztec nation will double with the entry into force of the agreement which unifies the Mexican FTA's that were held separately with Costa Rica, Nicaragua and the CA-3.
In late 2012, one year after the signing of the new trade agreement, trade between Mexico and the region totaled $9.3 billion.
This information was released by the Mexican ambassador in San Salvador, Raul Lopez Lira. "On September 1 the Central American countries will celebrate the first anniversary of the unified treaty between Mexico and the region with a significant increase in trade ...", reported Laprensa.com.ni article.
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.
The aims would be to increase the list of imports and exports to 200 products, in order to boost trade between the two countries.
This was announced by Panama's ambassador in the Dominican Republic, Alberto Castillero, who added that the Dominican Government has a special interest in strengthening bilateral trade agreements with the increase in the list of products in order to increase the export of agricultural and livestock products from that country.