Panama City, Panama—November 1, 2011—At a lunch hosted by AmCham’s Trade and Investment Committee, several representatives from the Ministry of Commerce and Industry of the Republic of Panama (MICI) spoke to a full room regarding the implementation process of the U.S.-Panama Free Trade Agreement.
On the panel were Lic. Diana Salazar, Vice Minister of State, Negotiations and International Commercial Treaties and Commercial Defense; Lic. Jose L. Pacheco T., Vice Minister of Foreign Commerce; Lic. Luis Garrido, National Director of International Commercial Negotiations; Juan Carlos Arias, President of AmCham Panama; and Alejandro F. de Souza, President AmCham’s Trade and Investment Committee.
Vice Minister Salazar stated that next step in the process includes a series of collaborations with the Office of the United States Trade Representative (USTR). Both parties must to go through the agreement point by point to ensure what’s written in the law is consistent with what was agreed upon and that this law quickly becomes enacted. Sensitive topics for Panama such as treatment of the agricultural and service industries will be covered in detail, and Salazar anticipates that concessions will be made on both sides to make sure the requirements of both parties are satisfied and that the process will move forward quickly.
Salazar said that she wants Panama’s agreement to be the first to be implemented, giving Panama the competitive advantage of being the first to reap benefits of its trade agreement with the United States.
She emphasized in her talk that AmCham Panama, with its broad connections in both countries, plays a vital role in helping MICI achieve its goals. She called AmCham a powerful and influential partner in the implementation process, an organization that can unite companies to support a common goal and an educator to the community as a whole on the benefits and safety of the U.S.-Panama Free Trade Agreement.
Vice Minister Salazar will be traveling with her team to Washington, D.C. on November 17th to continue talks with USTR. She considers these talks not only interactions between governments, but really negotiations on behalf of the private sectors of each respective country. She hinted that the next logical step will be establishing a chronology of dates for the implementation process, so that both MICI can inform the business community exactly when the Free Trade Agreement will go into effect.
About The American Chamber of Commerce & Industry of Panama (AmCham Panama)
Founded in 1979, AMCHAM Panama is a non-profit, non-political, independent, voluntary association supported primarily by membership dues. Much of the organization's work is accomplished through the efforts of volunteer member committees which collaborate to help AMCHAM promote free enterprise in Panama. AMCHAM Panama has over 450 active members, from small, local businesses to large multinational companies based in the United States.
Today, AMCHAM organizations are established in over 90 countries throughout Latin America, Asia and Europe. Panama's Chamber is affiliated with the Association of American Chambers of Commerce in Latin America (AACCLA) and is a fully accredited member of the U.S. Chamber of Commerce of America. The current President of AMCHAM Panama is Juan Carlos Arias, and the Executive Director is C.E. Maurice Bélanger. For more information, please go to Amcham Panama’s website: www.panamcham.com or call Corporate Communications: 507-301-3881.