The Minister of Commerce and Industry (MICI), Julio Moltó, announced that Panama is focused on becoming an “Associated State” of the Southern Common Market (Mercosur), which would involve signing a trade agreement with the economic bloc and beginning a consolidation process.

Moltó stressed that the efforts of the government of President José Raúl Mulino are aimed at achieving a Free Trade Agreement (FTA) with Mercosur in the next six months, before the next meeting of the economic group, as he assured during the inauguration ceremony of the new board of directors of the Association of Companies of the Panama Pacific Area.

“The MICI has an excellent trade negotiation team and that has already been demonstrated. It is something we cannot do alone, but we are working hand in hand with the Ministry of Foreign Affairs to make this process effective,” said Moltó.

He also indicated that a series of meetings will be held with the ambassadors of the countries belonging to Mercosur to advance negotiations, and that it is up to the MICI to establish an appropriate framework so that the country can benefit from this treaty.

In parallel, the Panamanian government could resume negotiations for a free trade agreement with the People’s Republic of China, which has been at a standstill for several years, and Moltó reported that a report on the progress made to date is being prepared.

“We are dusting it off. There were five years in which what had been done with China was not touched. I have asked the MICI negotiating team to give us everything that had been done in this regard and we are preparing a report for the President of the Republic so that the National Government can make decisions regarding what will or will not be done with what had been announced,” Moltó explained.