Joint Announcement of the Conclusion of the Negotiations for a Free Trade Agreement (FTA)
between the Republic of China (ROC) and the Republic of Panama (Panama)
Based on the goodwill of both countries, last August His Excellency Yu Shyi-Kun, Premier of the Republic of China and His Excellency Dominador Kaiser Basán, Second Vice President of the Republic of Panama signed a Joint Announcement where both governments pledged to launch negotiations that would lead to the conclusion and signing of a Free Trade Agreement (FTA). This Agreement will serve to strengthen the bilateral economic and trade relationships between the two countries.
Under the aforementioned mandate, the ROC and Panama have since committed themselves to five rounds of intensive negotiations, as well as a special session, that were held in their respective countries and a third place.
Both Parties finally reached consensus on all relevant topics to be included in the FTA.
On behalf of their respective governments, the ROC Economic Affairs Minister, Yi-Fu Lin and the Panamanian Trade and Industries Minister, Joaquín Jácome Diez jointly announce that both countries have agreed upon a comprehensive and balanced Free Trade
Agreement that includes trade and investment liberalization, trade facilitation and economic & technical cooperation.
The Parties are confident that the FTA to be signed by His Excellency, Chen Shui-bian, President of the ROC and Her Excellency, Mireya Moscoso, President of Panama in the upcoming 4th Meeting of the Heads of States and Governments of the Republic of China, Central America, the Dominican Republic and Belize, which is to be held on August 21 in Taipei, will contribute positively and favourably to the strengthening of trade in goods and services, as well as the promotion of investments between the two countries.
This FTA will stimulate bilateral trade and foster investment opportunities, laying a solid foundation for the enhancement of diplomatic and economic relations.
Furthermore, Taiwan´s enterprises shall be able to consider Panama as a pathway into the market of the Americas, while Taiwan shall serve as a gateway for Panamanian businesses wishing to enter the Asian Market.
After the signing of the Agreement, both Parties will seek to comply to their respective domestic legal processes required for the entry into force of this Agreement. The Parties express their willingness to make effective the ROC-Panama FTA no later than January 1, 2004, after which both countries shall enjoy the benefits brought forth by this Agreement.
Signed in the city of Taipei, the Republic of China on the eigth day of August, in the year Two Thousand and Three.
For the Government of the Republic of China:
For the Government of the Republic of Panama:
Yi-Fu Lin Joaquín E. Jácome Diez
Minister of Economic Affairs Minister of Trade and Industries
Republic of China Republic of Panama
