Chilean Free Trade Agreement Boosts Panamanian Economy

In an aggressive move aimed at continuing to improve its trade and influence with other nations in the region, Panama recently inked a Free Trade agreement with Chile.

This new trade agreement opens the door for duty free exchanges of goods between Panama and Chile.

This is an important step for Panamanian commerce. and food. It also lessens inflationary pressures on food prices. Produce from Chile accounts for a large percentage of Panamanian food imports.Panama also hopes that closer relations with its South American neighbor will translate to more customers for its rapidly expanding financial services sector.

Chile has a larger manufacturing base than does Panama. This infrastructure could provide much needed bricks, mortar, and steel to manufacturing related ventures based in Panama.

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