The Trade Promotion Agreement signed between the U.S. and Panama provides that “any retail business may participate in the local market.”

An article in Laestrella.com.pa reports that the Deputy Minister of International Trade Negotiations, Diana Salazar, said: “There is a letter attached to the Trade Promotion Agreement (TPA) that discusses retail trade, where companies complying with the requirements may operate in the country. ”

“Rumors that Wal-Mart is interested in entering the Panamanian market emerged in 2009. If realized, the U.S. will compete directly with the chains El Rey, El Machetazo, Xtra, Súper 99 y Price Smart, which currently dominate this market segment.

In Central America, the chain has a presence in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.”

Source: Laestrella.com.pa