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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Canada-Panama FTA Will Be Activated in Fall

Thursday, June 23, 2011 > 09:39:38
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Panama’s free trade agreement with (FTA) with the world's second largest country, is destined to be implemented in the fall with a sure fire parliamentary approval. The Canadian government announced Friday, June 17 that a bill to implement the agreement signed last year will be presented to Parliament.


Canada’s Minister of International Trade, Ed Fast, told the Panamanian Minister of Commerce and Industry of Roberto Henríquez on Friday June 17 that the Canadian government will "quickly" present the bill to implement the treaty.


Fast, in a speech before the Canada-Panama Chamber of Commerce in Toronto, said that the Canadian general election on May 2 prevented the adoption of the bill. "But I'm here today to reaffirm the strong commitment of our Government, and my firm commitment as a minister with this agreement," said Fast.


"Canadians have given us a strong mandate from a majority and we will present the agreement as soon as possible this fall," said Fast.


The Conservative Party of Prime Minister Stephen Harper won the May 2 general elections taking 166 of the 308 seats in the House of Commons, ensuring that the bill will be passed without problems.


The announcement was made the day after Copa Airlines introduced their new direct flight service to Canada.


Canada was the only country in the group of 8 to come through the global financial crisis relatively unscathed, and commentators see the FTA as a big opportunity for Panama to increase its agricultural exports, including coffee.


 



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