Israeli Prime Minister Benjamin Netanyahu met with Panamanian President Juan Carlos Varela and presided over the signing of a free trade agreement that the prime minister said held “phenomenal potential” for both countries. It will reduce or eliminate bi-lateral customs duties.

http://www.jewishpress.com/news/israel/government-israel/israel-panama-ink-free-trade-deal-as-netanyahu-wraps-up-week-of-unprecedented-success/2018/05/17/