Panama deal opens way for other trade agreements

WASHINGTON (AP) — The Obama administration says it is ready to begin discussions with Congress on implementing a free trade agreement with Panama.

A statement today by U.S. Trade Representative Ron Kirk announcing progress on the Panama deal comes after the Panamanian government ratified a tax treaty that removes one of the last hurdles to completion of the trade pact. Panama in the past has been a tax haven used by those trying to avoid paying taxes.

Movement on the Panama deal also clears the way for congressional action on two much larger pending free trade agreements, with South Korea and Colombia. House Republicans have demanded that all three agreements, signed by the George W. Bush administration in 2007, be submitted to Congress before they will consider them.