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Panama and Colombia to sign free trade accord

Friday, September 20, 2013

The Panamanian Minister for Trade, Ricardo Quijano, and his Colombian counterpart, Sergio Díaz-Granados, will sign today a bilateral free trade agreement, after seven rounds of talks.

Currently, the trade deficit is largely in favor of Colombia, as in the first half of the year it exported goods worth $206 million, while it imported from Panama goods worth $4 million.

The agreement also means Panama is one step closer in becoming a member of the Pacific Alliance trade bloc, which includes Mexico, Peru, Chile and Colombia, and now only needs to sign a trade accord with Mexico to fulfil the bloc's requirement of having a trade accord with each member.

Full story (in Spanish)