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Panama Joining SIECA to Boost Trade

Article Summary:

Panama is hoping that working together with other Central America countries they can capitalize on trade partnerships than if they went at it alone. SIECA, comprising Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and now Panama, is poised to take on trade agreements with the European Union and the European Free Trade Association.

Original Article Text From RevistaSumma:

Panama Joins SIECA
The Minister of Economy, Luis Velasquez, reported that the Council of Ministers of Economic Integration (Comieco) will sign this Friday Panama’s accession to the Central American Economic Integration Secretariat (SIECA).

The resolution is signed at the meeting of finance ministers of the region, but later Panama will bring its laws and legislation. That is, “be a full member of the Economic Integration System, with voice and vote in Comieco, and that means having rights but also obligations,” said Guatemalan official.

He noted, countries have already signed asked what has been approved they have to take it for good and “if there are situations for improvement, we are ready to do it.”
On 27 July he received the formal request for accession of Panama. The SIECA, comprising Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and now Panama, is a regional technical body whose function is primarily to assist in technical and administrative process of economic integration of Central American Integration System (SICA ).

Boost region
The Central American region will seek to conclude trade agreements with the European Union. Furthermore, the Ministry of Finance reported that Guatemala intends to open negotiations with the European Free Trade Association (EFTA), comprising Norway, Iceland, Liechtenstein and Switzerland.

Both talks will be sought as a region and if not go straight by themselves.

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From RevistaSumma via Google Translate

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