The Proposed U.S. Panama Free Trade Agreement

On November 16, 2003, President George W. Bush formally notified Congress of his intention to negotiate a bilateral free trade agreement (FTA) with Panama. Negotiations commenced in April 2004 and nine rounds have been held, the latest concluding on January 20, 2006, after a lengthy hiatus. Much of the text has been agreed to, following the framework of earlier U.S. FTAs, but a tenth round may be needed to complete the agreement. As with all free trade agreements, the U.S.- Panama FTA cannot enter into force until Congress passes implementing legislation and the President signs it into law.