Panama, Colombia Sign
Framework Pact On Trade Agreement
Negotiation
PANAMA - Panamanian Commerce and Industry
Minister Roberto Henriquez and his visiting
Colombian counterpart Luis Guillermo Plata
signed here Thursday a framework pact on the
negotiation of a Free Trade Agreement
between the two countries.
The signing ceremony was held at the
building of the Panamanian Chamber of
Commerce, Industry and Agriculture, where
both sides expressed their interest in the
negotiation, which is expected to finish in
three rounds.
Henriquez said that the first round of
negotiation will be held on March 15-19, and
the second round on April 12-16, while it
has not been decided yet when and where the
third round of negotiation will be held.
Henriquez said that during the negotiation,
the difference in sizes between the two
countries will be taken into account,
because Colombia has a population of 45
million and Panama merely more than 3
million.
"Colombia has 10 times the gross domestic
product of Panama," Henriquez said. He added
that both countries are awaiting U.S.
Congress ratification of the trade
agreements that the two countries have
separately signed with the United Sates.
Both nations also aspire to be part of a
bigger integration with the European Union,
Henriquez said.
According to Plata, Panama and Colombia will
negotiate an agreement to cover goods,
services, public purchases and investments.
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