Air traffic between Peru, Panama to increase thanks to bilateral FTA
5 February 2012
Lima (ANDINA). The commercial air traffic between Peru and Panama is expected to grow due to the Free Trade Agreement (FTA) signed by both countries in 2011, which is scheduled to come into force in the first quarter of this year, the president of Panama’s Copa Airlines Pedro Heilbron said.
In addition, he noted that it is expected that the commercial air flow increases with the negotiation of the free trade area composed by Colombia, Chile, Mexico and Peru, known as the Pacific Alliance, in which Panama participates as an observer at the moment.
"It is part of a great formula that is generating a strong economic and air growth in our countries," Heilbron told Andina.
The head of Copa Airlines commented that the FTAs generate more businesses and tourist development, which holds a reverberating effect on the economic growth, the rise of the middle class and people who travel by air for the first time.
Under the framework of the trade pacts with the Central American countries, Peru also signed a FTA with Costa Rica and Guatemala, which would entry into effect in the first quarter of 2012. It is worth mentioning that these agreements will increase the commercial air traffic with Central America.