Chile will ratify a FTA with Panama in the first semester

Fresh Plaza | January 24 2007

Chile will ratify a FTA with Panama in the first semester

Costa Rica announces to sign a FTA with Panama in the next three months

Jahir Lombana

Tholen - Last year, the Panamanian parliament ratified a free trade agreement (FTA) with Chile. The Chilean President Michelle Bachelet, will visit Panama taking part in the trade fair “Expocomer 2007” in March. Bachelet could use this ocassion for a formal announcement of the beginning of the Chilean-Panamanian FTA. Around 500 Chilean products have market access to Panama and Chilean investments are approximately US$ 1.700 million. The trade balance is also favourable to Chile. In 2006, Chilean exports to Panama achieved US$130 million and imports US$10 millions approximately.

In Costa Rica, the Trade Minister, Marco Vinicio announced that his country is also interested to finish negotiations to perform a FTA with Panama. The negotiations began five years ago but differences in agriculture and industrial sectors stalled the final agreement. Vinicio argued that 90% of the agreement is ready to be signed. Trade exchange between Costa Rica and Panama achieve US$328 million, favourable to Costa Rica with US$207 million.

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source: Fresh Plaza