Who Benefits from Free Trade Agreements?
(Panama-Guide) By MANUEL LUNA G. for La Estrella - The Free Trade Agreements (FTA) signed by Panama have not met expectations. At least exporters have failed to make the most of them. The numbers do not lie. The FTA signed between Panama and El Salvador, which went into effect on 11 April 2003, is a good example. A year before the agreement was signed in 2002 Panama exported $7.6 million dollars worth of goods to El Salvador, and Panama and imported goods from that country worth $46.4 million dollars. In 2008, five years after the FTA went into effect, Panama exported goods worth $7.5 million dollars (almost no change), while imports from El Salvador doubled to $93.4 million dollars. The story is the came in the case of the FTA signed with Singapore which went into effect on 24 July 2006.
