As part of the commitment from both governments to open new markets and strengthening existing trade relationships, the Government of Canada and the Republic of Panama have announced the approval of the Free Trade Agreement to come into force this April 1, 2013.

This agreement will immediately project benefits for both nations with the elimination of tariffs on more than 90% of exported goods and services. “I am very pleased to mark this important step in Canada’s deepening partnership with Panama—a country that boasts one of the fastest-growing markets in our hemisphere and that serves as a strategic gateway to Latin America,” said Minister Ablonczy.

Meanwhile the Office of International Trade Negotiations (ONCI) in Panama has exhorted the business community and the general public to take advantage of opportunities arising from this trade, "Canada is a potential market of over 34 million people with high purchasing power, meaning that this agreement opens the door to a market 10 times larger than the Panamanian."

Read the official announcement by the Government of Canada.

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