Find out about Panama's free trade agreements (FTAs), and how they support the country's development and promote benefits for foreign investment.  According to the US Embassy in Panama, the country has "historically served as the crossroads of trade for the Americas.” Thanks to the Panama Canal and the benefits offered by all the free trade zones within the country, it has become a strategic hub to do business. In 2017, Panama exported US$3.06 billion and imported US$24.8 billion, resulting in a trade balance of US$21.7 billion, making it the 66th largest importer in the world.  What is a free trade agreement in Panama?  According to the National Customs Authority or 'Autoridad Nacional de Aduanas', a free trade agreement is a regional or bilateral consensus that helps to promote the exchange of goods and services between the country members. Likewise, FTAs aim to eliminate or reduce trade tariffs between the signing parties. They are often supervised by the World Trade Organization (WTO). Panama is a member of SICA SICA works to integrate Central American markets. SICA, also known as 'Sistema de Integración Centroamericana' is a regional institution located in Central America, founded by Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama in 1991. The main purpose of this institution is to promote the integration of Central America, fostering security, freedom, democracy, and social development within the region. SICA is continuously working on the development of initiatives to integrate all these six countries. Thanks to SICA, the...