Canada will remove 99% of its tariffs on goods from Panama, while keeping those on some imports of sugar, poultry, eggs and dairy products.
Some in Canadian opposition parties considered stalling it for their consideration of Panama as a tax haven.
[3] In 1998, Panama and Canada signed the Foreign Investment Promotion and Protection Agreement (FIPA).
This agreement placed rights and obligations on foreign direct investments between the two countries.
[3] On May 14, 2010, Canada's International Trade Minister Peter Van Loan, along with Panama's Minister of Commerce and Industry, Roberto Henríquez, signed the Canada–Panama Free Trade Agreement (FTA), as well as parallel agreements on labor cooperation and the environment.