Panama, could become part of the Pacific Alliance

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Pag 4_fmtThe incorporation of Costa Rica and Panama at the Pacific Alliance (PA) will be one of the topics in the agenda of the IX summit of the commercial block that will take place in Nayarit, Mexico on June 19 and 20 according to a dispatch of the news agency EFE.

As this happens in Mexico, the Costa Rican government will make a revision of the agricultural agreements of the PA.

Costa Rica signed a letter of adhesion to the Alliance on February 10 while under the government of Laura Chinchilla. However, her successor, Luis Guillermo Solis, is still not convinced about giving a yes or a resounding no to the commercial alliance.

Meanwhile, Panama has approved the Free Trade Agreement with Mexico as part of its commitment to achieve commercial integration with the countries of the Pacific Alliance, Chile, Mexico, Peru and Colombia, although the date for its adhesion is still unknown due to the process it has to go through.

If Panama becomes part of the Alliance it could become one of the most important logistic hubs of the region as the integrants of this commercial block more than likely than not will use the expanded Canal to ship their goods to Europe and booming Asian market.

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