Air cargo traffic to be boosted by free trade accord between United States and Panama. Seafood and farm products
Unlike the US free-trade agreements with South Korea and Colombia, the one with Panama signed in October did not have to remove any huge obstacles to trade.
Panama’s average duty on imports from the US is 7 percent, while the US government had eliminated most of its tariffs on imports from Panama through the Caribbean Basin Initiative in 1984.
Nevertheless, the agreement is expected to provide a significant boost to airborne flows between the two countries.
“We expect sectors like seafood and agriculture to grow,” remarked Fernando Cruz, managing director for Central America and the Caribbean at DHL Global Forwarding.
Original source: Air Cargo World