Canada – Panama Free Trade Agreement
The bilateral agreement includes far more than improving the trade of goods. More emphasis is on trade in services, government procurement, telecommunications, investment and investment protection, and financial services. An even further extension was made to encourage protections on the environment during growth and labor cooperation between the countries.
Central America – European Free Trade Association (EFTA)
Countries include Costa Rica, Panama, and the EFTA countries, which again are Iceland, Liechtenstein, Norway, and Switzerland. The focus of this agreement includes all aspects such as trade in goods and services, intellectual property rights protection, sustainable development, investment, and improvement upon political relations. All Central American countries will slowly drop all tariffs; whereas, the customs duties traditionally enforced by EFTA countries will be abolished from the beginning. The countries of Honduras and Guatemala are in negotiations to be added to the agreement; but negotiations are on hold now.
EU – Central America regional Association Agreement
Countries include the EU nations, Costa Rica, El Salvador, Honduras, Guatemala, Nicaragua, and Panama. The basis for the agreement is to increase trade, improve relations, and generate a more open political dialogue. In recent years, the most important trade within these countries was agriculture, chemicals, office, machinery and transport equipment. Under this agreement, most tariffs have been removed, sustainable development will be supported, and greater access to foreign investments by all participating countries.
Panama – Singapore
The Panama – Singapore Free Trade Agreement (PSFTA) is quite expansive and progressive. Reducing barriers in trade and services is at the forefront, but many other areas have been established to enhance trade relations including government procurement, financial services, policy in competition, intellectual property protection, telecommunications, protection of investments, and electronic commerce.
Panama – Taiwan
The foundation of this trade agreement is to improve trade between the nations, increase economic development, and to enhance their competitiveness in the global trade arena. To do so, they minimize tariffs, permit investment, create jobs, improve standards of living, promote sustainable development and public welfare, and more.
Panama Trade Promotion Agreement (TPA)
Countries include the US and Panama. This Panama Trade Promotion Agreement is a Free Trade Agreement. The agreement includes both goods and services excluding certain services as initiated by Panama. Financial service benefits are a large part of this agreement. Most goods receive tariff leniencies including many agricultural products. Both governments are working to expand this agreement to further provide tax incentives and to include labor leniencies.
Regional Bilateral Trade Agreements
Panama has many regional bilateral trade agreements with their neighbors. While each is unique, they all work to improve trade, services, transparency, and inter-regional relationships. The agreements exist between Panama and each of the following countries individually as, at this time, no Central American agreement exists that includes all of the regional countries: Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.