New MOU could boost ethanol production in Panama while opening trade opportunities at home

A U.S. trade mission in Panama wraps up today, and while there, a new memorandum of understanding was signed that could give a boost to the ethanol market there while opening the door for economic opportunities here at home.

USDA’s Undersecretary for Trade, Alexis Taylor has been meeting with potential buyers from across the region. It is all part of strengthening the Dominican Republic-Central American Free Trade Agreement. Taylor is traveling with more than 20 agribusinesses and farm organizations as well as two state departments of agriculture. She says the new MOU is welcomed because it creates new economic opportunities.

“Panama recently had a decision signed into law to initiate ethanol blending in their gasoline supply, and it was a great opportunity, our U.S. industry, the Panamanian industry are coming together to help grow this ethanol market here, one that will benefit obviously U.S. producers, Panamanian producers, Panamanian consumers, but also the environment. So one that’s extremely exciting, both economically and environmentally,” said Taylor.