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Panama to go ahead with signing of FTA with Colombia
14 Jun '13
1 min read
Despite opposition from certain quarters, Panama would go ahead with the singing of the free trade agreement (FTA) with Colombia.
Mr. Ricardo Quijano, Panama’s Minister of Commerce and Industry, has expressed confidence that the FTA would be signed in thirty days time, according to La Prensa report.
The negotiations for FTA concluded on June 1, after seven rounds of negotiations, between the officials of the two neighbouring Latin American countries.
However, the traders of Colon Free Zone (CFZ) in Panama have expressed opposition to the FTA, as it does not reduce or eliminate tariff CFZ’s apparel exports to Colombia.
The Minister said, the objective of Panama is to form a Pacific Alliance, which would be a trade bloc comprising of Chile, Colombia, Peru and Mexico.
He said talks would begin with Mexico, once the FTA with Colombia is signed.
Fibre2fashion News Desk - India
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