The minister did write to his Panamanian counterpart. We have still not received a response. We are not in disagreement over concluding an information exchange agreement, but over what mechanism we should use. We would prefer to have an information exchange agreement similar to those negotiated with a number of other countries over the last year and a half. Panamanians would prefer to have a more comprehensive double taxation agreement. We don't believe that this is the opportune moment for such an agreement. So, we disagree over the means to achieve our stated purpose. Panama has “committed in principle." Unfortunately, our attempts to bring Panamanian representatives to the negotiating table have so far been unsuccessful.
On November 3rd, 2010. See this statement in context.