Panama, Chile reach free trade pact
Sunday, February 05 2006 @ 01:16 pm EST
Contributed by: Don Winner
Ferrer emphasized that most of the Panamanian products will enjoy a zero tariff when entering Chile's market. And tariff reduction for 8 percent of Panama's exports to Chile will be completed within 10 years.
The two sides excluded some sensitive issues from the agreement such as market access for agricultural products.
Free trade negotiations between the two countries failed in 1998 due to big differences on financial services. The talks resumed in July 2004.
During this round of negotiation, Panama and Chile agreed to start talks on financial services within two years.