Canada-Panama Free Trade Agreement In Force

Canadian Minister for International Trade, Ed Fast has welcomed the entry into force of the Canada-Panama free trade agreement on April 1, 2013, eliminating more than 90% of Panamanian tariffs on Canadian exports.

"Canada’s Economic Action Plan, with its focus on creating jobs, growth and long-term prosperity in every region of our country, includes opening new markets that increase Canadian exports," said Fast. "Starting today, this historic agreement will benefit Canadian exporters by immediately eliminating tariffs on more than 90% of Canadian goods exported to Panama. Workers and businesses in a wide range of Canadian sectors, such as aerospace, pharmaceuticals, pulp and paper and agriculture and agri-food, will benefit from taking Canada’s trading relationship with Panama to the next level."

"The trading relationship between Canada and Panama continues to grow by leaps and bounds, having increased by 62% in less than four years," added Diane Ablonczy, Canada's Minister of State for Foreign Affairs. "This agreement is further proof of our Government’s commitment to a robust presence in the Americas that increases economic opportunities for Canadians and delivers real benefits and prosperity for people throughout our hemisphere."

In less than six years, the Canadian Government has concluded free trade agreements with nine countries: Colombia, Honduras, Jordan, Panama, Peru and the European Free Trade Association member states of Iceland, Liechtenstein, Norway and Switzerland. In addition, Canada is engaged in ongoing free trade negotiations with the European Union, India, Japan and members of the Trans-Pacific Partnership - Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, the United States, Singapore and Vietnam.