Panamanian Corruption Concealed Amidst Free Trade Negotiations
•Obama welcomes Panamanian President Ricardo Martinelli in the midst of major scandal and corruption in Panama.
•Once again, Obama falls short of his commitments to Latin America as he collaborates with Martinelli to negotiate a flawed trade agreement.
From April 27 to April 29, Martinelli and 11 other Panamanian officials are meeting in Washington D.C. to discuss free trade, regional security, and bilateral cooperation with various U.S. departments and organizations. Today at the White House, President Barack Obama met with Panamanian President Ricardo Martinelli to discuss, among other issues, the pending free trade agreement between Panama and the United States. The meeting with Obama marks the halfway point of Martinelli’s three-day work trip to Washington D.C. and brings the U.S. one step closer towards closing the agreement with Panama.
Free Trade with Panama
The free trade agreement (FTA) was first drafted during the Bush administration, resembling the trade deal that Washington signed with Peru. The agreement was signed by the United States and Panama on June 28, 2007 and was then ratified by the Panamanian National Assembly less than 2 weeks later. As of now, the free trade agreement continues to await congressional approval in the United States. However, on April 18, 2011, U.S. Trade Representative Ron Kirk announced that the last obstacles to U.S. ratification had been met after Panama ratified a tax information sharing agreement with Washington. As the Obama administration prepares to present Congress with the free trade agreements with Columbia, Panama, and South Korea, Democrats remain reluctant to support such agreements while Republicans continue to push for action on all three deals by July.
This analysis was prepared by Eric Jackson Panama News,
COHA Senior Research Fellow
Blog de Octavio Islas 