While meeting with Panama President Martin Torrijos on Tuesday, President Bush promised that his administration would “do everything in our capacity” to move the trade bill with Panama forward. Bush also commended Torrijos on continuing work on the Panama Canal expansion, which he said would be mutually beneficial for both nations. In addition to this he urged Congress to include an aid package to Central American countries such as Panama to help fight drug trafficking in the region. President Bush has been voicing his support of several free trade agreements, the most notable being with Colombia, as well as an agreement in the works with South Korea.
The free trade agreement between Panama and the United States was drafted in 2024, and initially had more bipartisan support than the controversial trade agreement between the US and Colombia. The bill stalled in Congress when Pedro Miguel Gonzalez, a man wanted in the US for killing an American soldier, was elected head of Panama’s National Assembly. Fortunately for parties interested in moving the trade agreement forward, Mr. Gonzalez recently stated that he would not be seeking reelection later this year.
Despite President Bush’s comments, it is unlikely that a free trade agreement will be passed in Congress before the end of his term. To start, the bill wouldn’t be considered until after Mr. Gonzalez has stepped down as the head of the National Assembly. Once this happens it is unlikely that Congress would act immediately, especially as the United States presidential election nears. Many prominent Democrats are likely to be hesitant to support free trade agreements at this time, as the weakened dollar has many Americans concerned about job security. While President Bush may say that his administration will do everything possible to move forward on the free trade agreement with Panama, it remains doubtful that the lame duck president will have any success.
Sources:
Bush Vows To Help Panama Clinch US Free Trade Agreement (Nasdaq.com)
A Man, A Plan, A Free Trade Agreement (Politico.com)
