According to renowned "E-Readiness Report" presented earlier this year by the prestigious McConnell International - "in every country, a relationship of trust, accountability and predictability between public and private sectors is essential. For nations with a market-oriented economy where the government does not itself dominate the economy or the provision of communications services, staying out of the way of market forces – except to protect consumers – is the first priority".
Panama took a step in the right direction when the new e-commerce bill was signed into Law 43 by Panama's President, Mireya Moscoso on July 31, 2001. Believed to be the first of its kind to be implemented in Central America, the new law is expected to provide a much needed boost to Panama's e-commerce industry. This Law represents an advance for the legal recognition of electronic documents and signatures, which are elements necessary to increase the confidence in transactions conducted electronically. Its
