Caribbean & Central America - December 2013 (ISSN 1741-4458)

One year on since TPA with US took effect: US and Panamanian officials recently hailed the one-year anniversary of the implementation of the US-Panama Trade Promotion Agreement (TPA). According to a 19 November press release by the US State Department, bilateral trade with the US – Panama’s largest trading partner, accounting for approximately 23% of all two-way trade – grew by “roughly 20 percent to more than $10 billion in 2012 and has only continued to increase” since the TPA took effect on 31 October 2012. Another press release by the Office of the US Trade Representative highlighted the various positive results for the US of the agreement. Examples include the fact that from “November 2012 through August 2013 exports of agricultural products increased 18 percent to nearly $500 million. Exports of soybeans and soy products increased 94 percent to $72.5 million, and dairy product exports grew 24 percent to $40.8 million. Pork exports were up 70 percent to $17.6 million, and beef and beef products exports increased 42 percent to $7.6 million. Wheat exports grew 18 percent in the same period, to $40.1 million, while processed potato product exports increased 21 percent to $8.9 million”.

End of preview - This article contains approximately 398 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial