Panama FTA to Be Entered Into Force on October 31

By CnAgri2012-10-26 19:27:05 Print

The long-pending Panama-U.S. free trade agreement will be entered into force next week, the office of the U.S. Trade Representative announced Monday.

Nearly half of U.S. agricultural products, including wheat, will be able to enter the country duty-free when the agreement is officially in effect, with remaining tariffs phased out over 15 years.

The agreement is one of three such pacts negotiated and signed in 2006 and 2007, then stalled for political reasons until they were signed by President Barack Obama last October.

The two other agreements, with Colombia and South Korea, have already been activated.