. /.  WORLD TRADE  
ORGANIZATION   
WT/MIN(11)/ST/20 
16 December 2011  
 
(11-6565) 
MINISTERIAL CONFERENCE 
Eighth Session Geneva, 15 - 17 December 2011 Original:   Spanish 
 
  
PANAMA 
 
Statement by H.E. Mr Ricardo Quijano 
Ministry of Foreign Affairs, International Trade and Worship 
   I am pleased to be participating in this Eighth Ministerial Conference of the World Trade 
Organization, at an historic moment for the Repub lic of Panama, which has seen its economic growth 
and international trade reach unprecedented levels, th anks mainly to economic activities linked to the 
external sector, such as ports, air transport, tourism and the free zone of Colón.   According to figures from various internationa l organizations and entities, Panama at this 
time is the Latin American country  with the best growth prospects for the coming years.  Our 
economy grew by 7.5 per cent in 2010, and the cumulativ e monthly growth rate for this year stands at 
10.5 per cent;  our economy is therefore expected to record double-digit growth both this year and 
next year.   A number of different factors have influen ced this trend, ranging from a clear national 
strategic vision of development to rigorous fi scal and budgetary management, which has enabled 
Panama to position itself as one of the few Latin American countries with an "investment grade" 
credit risk rating.  One of the basic components of  the national strategy is Panama's commitment to 
developing a growth-oriented foreign trade policy w ith our trading partners as an indispensable means 
of achieving national growth and promo ting the well-being of our citizens. 
  The strengthening of basic multilateral standards is certainly critical, in Panama's view, to 
ensuring a fair and beneficial interaction with the in ternational trading community, at the same time as 
Members continue building regional or  bilateral synergies which bring us  closer together in terms of 
our trade vision and objectives, while increasing our exports and investments.   There were many who saw the Doha Ministerial Conference as representing the beginning of 
a litmus test undertaken with the hope that the WT O would experience a resurgence of more equitable 
formulas in respect of its principles and the distribution of its benefits.  Unfortunately, the Doha Round has shown no forward movement and one of our tasks today is to communicate clearly and 
effectively the fact that the Organization and the underlying multilateral system are invaluable to the 
day-to-day economic security of our peoples, who otherwise would have difficulty in benefiting from 
the economic and social advances of recent decades. 
  At the Sixth and Seventh Ministerial Confer ences of this Organization, Member countries 
renewed their commitment to the objectives of the Do ha Development Agenda.  Since then, the world 
has told us repeatedly that it is time to produce resu lts, to fulfil our pledges.  Today, we must dedicate 
ourselves again to this important work.  The persis tence of the global financial and economic crisis 
requires us to redouble our efforts to achieve this goal. 
 WT/MIN(11)/ST/20 
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   In the Doha Round negotiations on developmen t, Panama has supported the elimination of 
trade-distorting practices.  Among these, the elimina tion of agricultural export subsidies represents 
one of the most important promises of the Round.   We cannot in this brief statement take up all the formulations for this Conference;  however, 
with your permission, we shall make two specific comments: 
 
 Panama reiterates its commitment to resist protectionism firmly and to achieve 
substantial progress in the liberalization of  trade in services in general, and in 
tourism, maritime and financial services in  particular.  Competitiveness in these 
areas, based on openness and careful management, has enabled our country to meet 
the challenges of the financial crisis successfully. 
 
 After almost two decades of trade disputes,  Panama welcomed the adoption two years 
ago of the "Geneva Agreement on Trade in Bananas", which will make it possible for 
Latin American bananas and other tropical products to be exported to the European 
Union under fairer conditions.  These agreemen ts provide an economically beneficial 
and legally sustainable solution for all the parties involved in this long-running 
dispute.  Panama calls upon all the parties w hose direct or indirect support is required 
for this process to adopt definitive regulati ons on the application of the agreements 
and to notify compliance with the necessary in ternal processes for ratification.  In the 
broader context of the multilateral system , the agreement on tropical products could 
be the catalyst that will reinvigorate the long drawn out Doha Round, being the only 
example of an early harvest in terms of the conclusion of the Single Undertaking. 
  Finally, Panama welcomes the four Members that have most recently acceded to the WTO:  
Montenegro, Russia, Samoa and Vanuatu.  We look forward to the decisions to be taken at this 
Conference on the cases of non-violation under the TR IPS Agreement, and on electronic commerce, 
recognizing that they are important to the forward progress of the multilateral system. 
  We congratulate you on the organization of th e Conference and look forward to engaging in 
a productive exercise which yields the desired results.  
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