After strong growth in the early part of the year, textile mills in the free zones of Nicaragua are reducing their workforce due to falling orders from the U.S.
In January and February, customer demand in the U.S. grew by 55%, but has declined in recent months according to the growth of inventories, said representatives of companies in the textile zones.
Panama has delivered its instrument of adherence to the Treaty of Montevideo of 1980 formalizing its entry as a full member of the Latin American Integration Association (ALADI).
A press release from the Ministry of Foreign Affairs of Panama reads:
The Republic of Panama on Thursday delivered its instrument of adherence to the Treaty of Montevideo of 1980 formalizing the country's entry as a full member of the Latin American Integration Association (ALADI), the oldest regional economic integration forum.
The Latin American Integration Association (ALADI) brings together 12 countries under a statute of commercial openness, which Panama will join in 2012.
Starting next year, and progressively the canal country can benefit from tariff preferences which exist among members of this Association, founded in 1980 for trade promotion in Latin America.
Through this treaty, via which member nations are committed to developing a common trading market, Panama will have access to other benefits such as financial and scientific cooperation, among other things.
Beginning on April 29, Panama will formally join the Latin American Integration Association.
Mary Triny Zea, in her article in Prensa.com, reported statements from Máximo Gallardo, president of the Panamanian Association of Exporters, who sees "the integration as positive and beneficial," remarking that "it does not mean that Panama cannot continue in the integration process with Central America.
The Latin-American Association of Integration (ALADI) approved a report that considers the request of the inclusion of Panama.
Mi Punto in its website publishes: "The Mexican Ambassador, Cassio Luiselli, was the one responsible for bringing the proposal before the Committee of Representatives of ALADI, leaving the impression that the government of Panama accepts the consecrated requirements of the Montevideo Treaty of 1980, which gave origin to the association."
For the first time in history the leaders of Latin American and Caribbean countries will meet on their own to discuss integration.
The meeting, which will be held on December 16 & 17 at Costa de Sauipe, a resort close to the Brazilian city of Salvador de Bahia (in the northeast), will seek to promote greater cooperation between the various regional integration mechanisms.