Local October 5, 2016 | 10:24 am

Foreign minister eyes expanded trade with Panama

Santo Domingo.-Foreign minister Miguel Vargas Maldonado on Tuesday said he will meet with Panamaauthorities later this month to discussthe possibility of extending the partial trade agreement with that nation.

After a meeting with DominicanIndustries Association (AIRD) directors, the official said even though Panamaisn’t part of the DR-CAFTA free trade pact, it might be interested in anagreement to expand trade with Santo Domingo.

"Panama is inthe best disposition to verify the possibility of a broader free tradeagreement with the Dominican Republic and it’s in our interest to takeadvantage of all scenarios to further improve our good relations with sister countries,"Vargas said.

A report on the Industryand Commerce Ministry website, the Dominican Republic-Panama partial tradeagreement, the tariff-free exchange covers only 120 products, of which 24 areDominican and 26 Panamanian. "DominicanRepublic and the Republic of Panama signed a trade agreement in 1985, which wasratified in 1987 and took effect November 2, 2003."

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