On 16 May 2016, Panama's Vice Minister of Multilateral Affairs and Cooperation, Maria Luisa Navarro, told reporters in New Delhi that negotiations are underway for a tax information exchange agreement (TIEA) with India. Navarro also noted that negotiations are ongoing for TIEAs with Brazil, Germany and Japan. Any resulting TIEA's will be the first of their kind between Panama and the respective countries, and must be finalized, signed and ratified before entering into force.