Canada Signs Free-Trade Agreement With Panama

by Rob Walker | August 11, 2009 at 07:03 am

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Canada will be signing a free-trade agreement with Panama on Tuesday, giving Canadian businesses greater access to the Central American economy.

Prime Minister Stephen Harper is in Panama City and will ratify the deal later in the day. As soon as the agreement is signed, Panama will immediately eliminate tariffs on more than 90 per cent of its Canadian imports.

Once the deal is ratified, Panama will immediately eliminate tariffs on more than 90 per cent of its current imports from Canada. The remaining tariffs will fall within a decade.
Canada has a relatively modest trade relationship with Panama, whose economy grew by 9.2 per cent last year. In 2008, Canadian exports to Panama totaled $127.9 million.