The governments of Peru and Panama agreed on Thursday to start negotiations for a bilateral free trade agreement by the end of the year, daily El Comercio reported.
The decision to go ahead with negotiations for a trade deal followed a meeting in Lima between President Alan Garcia and his Panamanian counterpart, Ricardo Martinelli.
“Peru has an uncountable number of investment opportunities and I’m sure that with the strengthening of bilateral relations, many Panamanian businesses are going to come and invest in different areas,” state news agency Andina reported Martinelli as saying.
The governments also agreed to abolish the need for tourist visas, which will allow citizens traveling between the two countries to enter with a tourism stamp.
Officials signed other agreements related to environmental cooperation, sustainable development, poverty, and malnutrition.
