Panama and El Salvador hammer out draft of Central American Free Trade Treaty

The first round of negotiations between the governments of Panama and El Salvador on a draft Central American Free Trade Treaty concluded on January 13. The preliminary document will be made available to the business communities of both countries for comments, and if there are no major objections the treaty will be sent to the respective legislatures for approval. The presidents of both countries must then formally ratify the document, a process expected to take three months at most.