Third round of free trade negotiations with Panama nears

Panama is expected to become the first foreign country to sign a free trade agreement (FTA) with Taiwan if talks between the two countries ends smoothly next month, a Ministry of Economic Affairs official said yesterday.

Vice Minister of Economic Affairs Steve Chen (陳瑞隆) is scheduled to head a Taiwan delegation to Panama City to attend the third-round Taiwan-Panama FTA negotiations slated for March 17 to March 21, the ministry's Secretary-General Yeh Huey-ching (葉惠青) said.

Taiwan could formally sign a the nation's first ever free trade agreement with Panama in June, Yeh said. Taiwan also hopes to sign a similar accord with the US, Singapore, Japan, New Zealand and South Korea, he noted.

The ministry has been actively pushing for the signing of FTAs with these countries, in the belief that FTAs will facilitate Taiwan's integration into the international community. This could also be easier for Taiwan than signing a multilateral accord with WTO member countries, according to Yeh.