The Mexican Ministry of Economy said that a Free Trade Agreement (FTA) with Panama would boost further integration of the Mexican economy in Central America, the Caribbean, the Andean region and the United States.
“It would further integrate Mexican exports from Panama to the United States, Venezuela and Colombia, these three countries accounting for about 57% of Panama’s exports,” said Francisco de Rosenzweig, Mexican Undersecretary of Foreign Trade.
The official argued that the treaty would [...]
The acting Minister of Commerce and Industry of Panama, Luis Eduardo Camacho, highlighted the work done by the Secretariat of Central American Integration (SICA) in various forums and seminars to disclose the Association Agreement between the European Union and Central America.
During one of these activities, the acting minister said that the Association Agreement with the European Union sets an important precedent, being the first agreement region-region and is an example of the kind of [...]
The Minister of Commerce and Industry of Panama, Ricardo Quijano, and the acting Minister of Economy of Taiwan, Francis Kuo-Hsin Liang, held a meeting where both sides exchanged business experiences through free trade agreements.
It was mentioned at the meeting, Panama’s interest to be part of the Pacific Alliance, which provides an opportunity for the logistics sector in the Latin American country, said Quijano.
The Minister of Commerce stressed the importance of Panama in global [...]
The Panama-US Business Council (USPA) could begin promoting Panamanian products in the United States in the first quarter of 2014.
USPA seeks to promote Panamanian exports to the US market through trade missions that could start in the first quarter of 2014.
Walter Luchsinger, USPA president, said the council will promote Panamanian products, especially now that the Panamanian Association of Exporters (APEX) and USPA exchanged information a few weeks ago at a meeting in which [...]
According to the Central American Economic Integration Secretariat (SIECA) in the first five months of 2013, the Central American trade balance had a deficit of 9.2 % over the same period of 2012, to settle at $12,516,900,000.
Panama registered the largest deficit, with 30.9%. Followers were Guatemala, with 19.9%, Costa Rica, with 16.0%, El Salvador, with 13.8%, Honduras, with 12.2%, and Nicaragua, with 7.2%. Meanwhile, intra-regional trade in Central America in the first five months [...]
Panamanian investment in Mexico totaled $781.7 million between September 1999 and March 2012.
Additionally, the trade balance recorded a surplus for Mexico of $1,052.7 million, while Mexican exports and imports grew by 273.8% and 135.3%, in that order, with respect to 2011, announced the Mexican Ministry of Economy.
Thus, Panama was consolidated as the ninth largest trading partner of Mexico in Latin America and the Caribbean, with 11.5% of total trade with the region. The [...]
The presidents of Mexico, Enrique Peña Nieto, and Panama, Ricardo Martinelli Berrocal, agreed to accelerate negotiations before the end of the year for signing their free trade agreement, thus preempt the programmed April 2014 date.
This step will allow Panama to join the Pacific Alliance, while Mexico will be in a position to have more exchange and open more opportunities to benefit both countries.
After their bilateral meeting at the Palacio de las Garzas in [...]