Panama Approves FTA With
Guatemala
Panama's cabinet has
approved the free trade
agreement (FTA) between
Panama and Guatemala
signed on Feb. 26,
Commerce and Industry
Minister Alejandro
Ferrer said Thursday.
The FTA must be approved
by parliament, or the
legislative assembly,
before it comes into
force.
Bilateral trade will
grow more rapidly if the
agreement takes effect,
Ferrer said, quoted by
local daily "La Estrella
de Panama."
Trade volume between
Panama and Guatemala
reached 120 million U.S.
dollars in 2007,
representing a 15
percent increase over
2006.
According to the
agreement, 98 percent of
Panama's exports to
Guatemala will be tax
free after it takes
effect.
Panama's exports to
Guatemala include
medicines, matches,
bags, plastic
cartridges, glass
bottles, sauces, among
others. |
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