Panama City - Panama and Taiwan on Monday proposed a sharp
increase in bilateral economic ties in the fields of construction,
industry and the exploitation of marine resources in light of a free
trade agreement between the two countries.
Panamanian Deputy Minister for Foreign Trade Carmen Gisela
Vergara, and the deputy director general of Taiwan's Bureau of
Foreign Trade, Wu Hsin-hua, launched a business forum in Panama that
would explore joint opportunities.
Vergara said a free trade agreement since 2004 has opened up
possibilities for investment in services, ports, airports and the
technology sector. She noted that bilateral trade added up to 217.7
million dollars in 2006 and is on the rise.
According to Wu, Taiwan wants a stake in Panama's vibrant
construction sector, and Taiwanese firms would be interested
in playing a part in the expansion of the Panama Canal.
Wu said Kan Shi-Ying, the designer of the Taipei 101 - the tallest
finished building in the world - is due to arrive in Panama later
this month to speak at the 20th International Building Industry Fair
in Panama City.
Taiwan was interested in Panama's plans to become a regional
energy centre, and Wu mentioned the possibility that the two
countries may jointly explore biofuels and the use of sea water to
generate energy.
According to the trade deal in place since 2004, some 6,200
Panamanian items can enter the Taiwanese market with no tariff, while
4,160 Taiwanese products receive similar treatment in Panama.
The Taiwanese delegation is also set to visit Nicaragua, El
Salvador, Honduras and Guatemala. The five countries have signed all
signed free-trade agreements with Taipei, which will facilitate
Taiwanese goods entering North American markets that Central American
countries have also trade deals with.
Taiwan is recognized by 24 countries and half of them are in
Latin America and the Caribbean.
Taiwan's deal with Panama and Guatemala is already in effect and
the agreement with Nicaragua is expected to become active later this
year. The trade deals with Honduras and El Salvador will come into
effect in 2008.
© 2007 dpa - Deutsche Presse-Agentur 
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