free trade

Treaty Cost High

JIHAN RODRÍGUEZ/LA PRENSA

Minister: Mici’s Alejandro Ferrer.955870

Negotiating the free trade agreement with the United States has been costly for Panama, yet its ratification by the U.S. Congress is doubtful.

The Ministerio de Comercio e Industrias (Mici) revealed yesterday that during the 10 rounds of negotiations with the U.S., it spent more than $6 million to cover the costs of consultations, lodging, travel, meeting rooms, and food. The Ministerio paid the expenses of negotiating teams, government officials, and representatives from the private sector as well.

This is equal to the annual budget for the glass of milk program managed by the Ministerio de Educación (Meduca), which benefits some 472,000 students of limited means.

The TCP expenses were incurred during the terms of both Mireya Moscoso and Martín Torrijos. Mici spent a little under $3 million during the former president’s administration and has already disbursed $3,112,164 under President Torrijos.

Assessments and studies of the treaty alone account for half of the total expenditures, or $3,381,430, as detailed in a Mici report. This figure does not include the cost of the technical teams from the Ministerio de Desarrollo Agropecuario, Economía y Finanzas and the Cancillería. The private sector spent another 600,000 on the treaty.