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Panama and Chile to start free trade

Panama and Chile to Start Free Trade

Panama, Jan 23 2008 (Prensa Latina) Panama and Chile will implement a bilateral free trade agreement on March 7, signed by both countries, the Panamanian Foreign Ministry announced on Wednesday.

That agreement will allow Panama to consolidate its exports to Chilean markets, free of taxes, a direct support to national industry, Foreign Affairs Minister Samuel Lewis said in a note expressing his satisfaction with the process.

"This agreement is part of the government’s foreign trade strategy, which seeks to open markets for our products and services," he said.

Panama has excellent relations with Chile, and they will be fostered with increased trade with this agreement, in the interest of all consumers.

Lewis asserted that an important window is being opened to Panamanian agricultural and industrial products, such as cacao derivatives, pineapples and seafood.

Chile is among the 20 main providers to the Colon Free Area, especially of wines, clothing and pharmaceutical products.

 source: Prensa Latina