US, Panama reach trade deal
Afp, Washington
The US government said Tuesday it had virtually wrapped up a free-trade agreement (FTA) with Panama in what should be a major boost to bilateral commerce before the Panama Canal is expanded. The office of US Trade Representative Susan Schwab said the pact was complete save for further talks on labor issues, which are gaining in trade prominence as the Democrats prepare to retake control of Congress next month. "This historic agreement between two good friends and close partners will promote economic growth and development in both of our countries," Schwab said after talks with Panama's Minister of Trade and Industry Alejandro Ferrer. "Before submitting the agreement to Congress, we will work with both sides of the aisle to ensure strong bipartisan support for the agreement," she added. The agreement is the latest in a series of FTAs negotiated by Schwab's team this year, both in Central America and further afield, in a rush before the US administration loses its "fast-track" trade authority next June.
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