Panama and Taiwan had an agreement regards to trade and the free trade could officially bring them in more businesses. This could be conducted between the both countries. The 92 percentage of the panama’s export with the scrap metal, fish and beef import and export let these both countries to come closer. The panama now does not want to fall with the demand for the areas that is growing successfully in trade with Taiwan.
The president of the Panamanian association, Maximo Gallardo has said that the Taiwan officially looking for the custom trades that has made for both countries difficult instead of a fair trade agreement. Poultry a firm in panama is now give up on the negotiation for the regulations. In the year 2008 alone, when the trade between these two countries have got reach to USD 97 million. The trade was almost equal for both the countries where panama slightly imbalanced with the amount that has exploded.
The free agreement of the trade made them fearlessly, and it collected the total with the USD 33 million in the year 2004. The Taiwan has been reported as the good industry by the one of the official from the panama trade organization. However, the other exporters has declined the choice of doing business with the Taiwan in upcoming future due to the rising value of dollar in the market that could lead them hard to find a sophisticated way to trade with any country.