Panama, one step closer to associating with Mercosur

After three days of debate, the National Assembly unanimously approved the bill ratifying Economic Complementation Agreement No. 76 between Panama and Mercosur.

The initiative —now Law 201— was supported without any votes against or abstentions. During the debate, deputies and ministers discussed the potential impacts on domestic producers and sensitive sectors.

Ministers Julio Moltó (MICI) and Roberto Linares (MIDA) clarified that the agreement is not a Free Trade Agreement nor does it imply immediate market opening, and that 12 sensitive agricultural products were excluded from the negotiation.

According to the Executive, this accession will allow for new export opportunities, attraction of investments, and strengthening of the logistics sector.

With this ratification, Panama would become the first country outside South America to achieve the status of Associated State of Mercosur.