I can tell you that Panama in 2001 made a commitment to adhere to the international standard on exchange of information and as of a few years ago has started to negotiate tax treaties that contain that standard for exchange of information and tax information exchange agreements.
To the extent that there are secrecy laws in a country, a tax treaty or a tax information exchange agreement helps to overcome that secrecy, because the agreements provide that, notwithstanding incidents of bank secrecy, you have to provide information that is relevant for the administration of your own tax laws. I think a treaty helps to shed light, in fact, on people who might think that investing in those countries can subtract from their obligations in Canada to report their income.