As from April 1st, 78% of the customs duties charged by Panama on imports of Canadian agricultural products will drop to 0%. This will open up great opportunities for Panama to start exporting vegetables to Canada where their green house production falls off drastically in winter. They have little to no solar energy at that time of year while Panama is blessed with it 365 days a year. Ahhhh, here comes the maple syrup.
Duties on Canadian products not originating in agriculture will fall to zero in 95% of cases.
For Panamanian producers of fresh produce, the current FTA now opens opportunities for increased exports, considering that Canada imports 75% of the fresh produce consumed by its population.
The Free Trade Agreement between Canada and Panama was signed on May 14, 2010, endorsed by the Panamanian parliament in the same year, while in Canada the endorsement was completed recently in September 2012.
Canadian sectors that will benefit the most from the agreement are those producing pork and beef, and frozen potatoes.
FROZEN POTATOES FROM PANAMA ? ? ? IDAHO is right NEXT DOOR for any amount of Potatoes…..HO HO HO….LOOONIE !!!!!