Although there have already been five rounds of negotiations to sign a free trade agreement, the Cortizo administration announced that they decided to restrict themselves to signing a partial-scope agreement.
Representatives of the Ministry of Commerce and Industries (Mici) explained that they want the scope of the trade agreement with the Asian giant to be limited to the exchange of agricultural and industrial goods, which is known as a partial scope Free Trade Agreement (FTA).
The fifth round of negotiations, to be held from April 24 to 26 in Beijing, is expected to make further progress on issues related to market access and attracting investment, among others.
From the statement of the Ministry of Commerce and Industries of Panama:
Panama City, April 23, 2019. The teams from the Republic of Panama and the People's Republic of China begin tomorrow Wednesday the fifth round of negotiations for the Trade Agreement between the two countries.
It is announced that technical groups from the governments of El Salvador and Guatemala began negotiations in London to conclude a new trade agreement.
Now, there is a possibility that the agreement the region seeks to sign with the European country will not be consolidated, since it is not yet clear how the process of Britain's exit from the European Union will be carried out, an issue that is generating great tension between the British Parliament and Prime Minister, Theresa May, at this very moment.
During the fourth round of negotiations between the two countries, rules of origin, customs procedures, market access, trade in services and others were addressed.
From the statement of the Ministry of Commerce and Industries:
The negotiating teams from Panama and the Popular Republic of China concluded today in the Panamanian capital the Fourth Round of Negotiations for a Trade Agreement with approaches in the chapters of Rules of Origin, Customs Procedures, Market Access, Trade in Services and others.
From November 19th to 23rd, the fourth round of negotiations will take place in Panama City, where issues related to the protection of sensitive products of the Central American country will be addressed.
The Ministry of Commerce and Industry reported that in the previous three rounds of negotiations, progress has been made on intellectual property, sanitary and phytosanitary measures.
The FTA with Panama and the agreement with El Salvador, both in the negotiation stage, are part of the commercial opportunities that the Asian nation seeks to consolidate in the region in the short-term.
The third round of negotiations to conclude the trade agreement between the Central American country and the Asian nation began in Panama City. This session will deal with trade barriers, customs procedures and trade facilitation.
With topics such as e-commerce and regulatory framework on the agenda, the first round of negotiations to establish a Free Trade Agreement between Panama and the Asian giant have begun in Panama City.
Authorities stated that during the first negotiations Panama will be represented by some 25 members of the Negotiating Commission of Free Trade Agreements of the Ministry of Commerce and Industries (MICI) and will also be able to count on the participation of more than 40 unions from the productive sector.
Two weeks after the first official round of negotiations and with the aim of aligning criteria, the Panamanian government has started a process of consultations with the business sector.
The Ministry of Commerce and Industry reported that "...The consultation process seeks to align the vision of the government institutions and agree on objectives with the private sector to define the points of greatest interest that the Panamanian team will present in the negotiation rounds."
Progress was made on issues of market access, services, customs administration and trade facilitation, intellectual property, investment, rules of origin, trade remedies and cooperation.
On the issue of rules of origin, the Deputy Minister of Trade Negotiations in Panama told EFE that "... we were able to review the 17 items that were pending and practically agreed on nine others which have been left for the next meeting."
Several years after conversations began, Central America and South Korea finally started the formal negotiations for a free trade agreement.
From a statement issued by the Government of Guatemala:
In Houston, Texas, the Minister of Economy of Guatemala, Sergio de la Torre, and his Central American counterparts in charge of foreign trade, met with Korean Minister of Commerce, Industry and Energy Yoon Sang-Jick, to start negotiating the Free Trade Agreement between the Republic of Korea and the Central American republics.
Israel may become the entrance door to the Middle East for the panamanian exports.
In 2013, Panama generated $1.47 million exporting its own products to Israel and about $86,000 from re-exports. A free trade agreement with Israel, a process that has just begun with the completion of the first round of talks in Jerusalem, could become a valuable opportunity to increase the numbers of agricultural exports and those from other productive sectors.