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News :: Politics
Panama to Explore Commercial Possibilities in G-3
27 Apr 2005
Panama explores integration possibilities with
G-3 Group (Mexico, Colombia and Venezuela)
Panama, Apr 27 (Prensa Latina) The Panamanian government will participate in its first meeting as a member of the Group of the Three (G-3) on June 10, to explore the commercial possibilities of this institution, stated an official source Wednesday.
Estif Aparicio, head of commercial negotiations for Panama, said the alliance with G-3 (Mexico, Colombia and Venezuela) will enable greater economic progress and integration for Panama.
Official statistics reveal that at the time of becoming a G-3 member, Panama, will have a market of more than 164 million consumers, and a Gross Domestic Product over 800 billion dollars.
G-3, a regional commercial block created in 1989, admitted Panama as a member on November 4, 2004, at a meeting of Foreign Affairs Ministers held in Rio de Janeiro, Brazil.
On May 12, 1994, G-3 concluded a free trade treaty which has among its main objectives to stimulate diversification and expansion of the commercial links among signatory countries and their regional environment.
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