PANAMA CITY, Apr 5 (Xinhua): Panama and Mexico signed a free trade agreement Thursday, bringing this Central American country one step closer to the Pacific Alliance.
The deal was signed in Panama City by Panamanian Trade and Industries Minister Ricardo Quijano and Mexico's Secretary of Economy Ildefonso Guajardo. The signing ceremony was presided over by Panama's President Ricardo Martinelli and his Mexican counterpart Enrique Pena Nieto.
Martinelli described the agreement as a "win-win" situation for both countries, and a stepping stone to joining the Pacific Alliance, a trade bloc founded in 2012 by Colombia, Chile, Mexico and Peru.
"This treaty is very favourable for both parties, because both countries will have the opportunity to boost trade and investment," said Martinelli, adding the deal will "allow Panama to join the Pacific Alliance."
A main requisite to joining the alliance is to have a free trade agreement with the its member countries.
The agreement was signed on the sidelines of the World Economic Forum on Latin America, which gathered five heads of state, a prime minister, and more than 600 officials and business leaders from 50 countries under the theme "Opening Pathways for Shared Progress."
Martinelli also expressed interest in having Panama serve as the headquarters of the alliance, once Panama becomes a full member.
Pena Nieto acknowledged the agreement as bringing Panama closer to the alliance and as a platform to spur the development of the two countries.
Panama, Mexico ink free trade deal
FE Team | Published: April 06, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like