Panama & Schwab complete trade promotion agreement negotiations
20 Dec '06
3 min read
Susan C. Schwab
The United States and Panama announced that they have completed negotiations on a free trade agreement with the understanding that it is subject to further discussions regarding labor.
This comprehensive trade agreement will eliminate tariffs and other barriers to trade of goods and services, expand trade between the United States and Panama, and promote economic growth and opportunity.
The conclusion of the negotiations with Panama was announced by U.S. Trade Representative Susan C. Schwab and Alejandro Ferrer, Panama's Minister of Trade and Industry.
“This historic agreement between two good friends and close partners will promote economic growth and development in both of our countries,” said U.S. Trade Representative Susan C. Schwab.
“Panama is an important ally in the region. We are pleased to be able to advance our long-standing friendship and deepen our trading relations with Panama,” said Ambassador Schwab.
“This comprehensive agreement significantly cuts trade barriers and expands opportunities for American workers, consumers, farmers and ranchers, manufacturers, and service providers.”
“We have reached this agreement with the understanding that it is subject to additional discussions on labor. Before submitting the agreement to Congress, we will work with both sides of the aisle to ensure strong bipartisan support for the agreement,” said Ambassador Schwab.
The United States and Panama have a long history of close ties and a strong economic partnership. “The free trade agreement announced today expands an already vibrant trade and investment relationship, and is another important milestone in President Bush's strategy of building strategic ties in the Western Hemisphere.”
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