Friday 27 January 2023

New Twist in Panama-China FTA Negotiation

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27 January 2023 - At The Banks - BCCR

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Weeks after the Cortizo government decided to interrupt the negotiations of the trade agreement, it announced that in 2020 the issue of the FTA with the Asian giant could begin to be seen again.

The issue has generated expectation, because after having advanced to the fifth round of negotiations during the Varela administration, with the arrival of Laurentino Cortizo in charge, the process of signing the agreement was completely interrupted.

New authorities were categorical, since weeks ago, the slogan was that the negotiation of trade agreements with other countries would not be resumed until Panama’s exportable supply was strengthened.

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Although this position caused uncertainty about the future of the negotiations with China, Ramón Martínez, Minister of Commerce and Industry, has clarified the panorama a little, assuring that “… For the other year we could start to see again the Free Trade Agreement (FTA) with China.”

Martínez told Panamaamerica.com.pa that “… First, they are working on what agricultural sector and make the plants comply with the protocols and certifications to be able to export to China. We think that things have to be done step by step and at this time we want to concentrate on strengthening the trade relationship.”

Wei Qiang, China’s ambassador to Panama, said in mid-September that the Asian country is still interested in negotiating a high-level free trade agreement.

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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