The Panama-Mexico free trade agreement, which takes effect on Wednesday, will boost bilateral trade and investment, and promote regional integration, officials said.

Panamanian government officials and Mexican Economy Secretariat representatives discussed the agreement at a conference held on Tuesday by the Panamanian Trade, Agriculture, Industry and Agriculture Association, or CCIAP.

Participants discussed the FTA and said it provided a “window of opportunity” for merchants, industrialists and exporters in Panama and Mexico.

Intellectual property, rules of origin, dispute resolution, access to markets, health regulations, e-commerce, financial services, travel rules, investment and crossborder trade were among the topics discussed.

The FTA, which was signed by Panama and Mexico on April 3, 2014, has 21 chapters and covers about 4,000 tariffs.

The Mexican Congress approved the trade deal on March 12, while the Panamanian National Assembly gave its approval on Oct. 8, 2014.

Bilateral trade totaled $1 billion in 2014, with Mexico posting a surplus of $968.8 million, the Mexican Economy Secretariat said.

Mexico imported Panamanian products worth $20.3 million last year. EFE