Taking as a basis the Agreement on Economic and Trade Cooperation, signed in 2010, negotiations began to establish a Free Trade Agreement between the Republic of Panama and the State of Israel on May 11 in Jerusalem.
The Panamanian Deputy Minister for International Trade Negotiations, Diana Salazar, travelled to Jerusalem, to reach an agreement at macro level.
According to the Ministry of Trade and Industry (Minci) of Panama, the negotiation focused on: rules of origin, market access, sanitary and phytosanitary measures, services, investment, dispute settlement and trade remedies.
Yifat-Alon Perel, director of the Department of Bilateral Trade Agreements in Foreign Trade Administration on the Israeli side said " about 65% of Israel's exports are directed to countries with which Israel has a free trade agreement, therefore closer economic relations with Panama will be twofold: From the point of view of opening new markets for Israeli industry, as well as in light of the need to strengthen the position of Israel in Latin America."
