Panama May be Out of Agreement with Europe

The entry into force of the Central American Trade Agreement with the European Union draws near and Panama has not yet formally integrated into the region.

Thursday, May 10, 2012

The Treaty of the Central American-European Union Association will be stamped with the final flourish at the end of June, and the commercial part very will enter into force very soon after being signed, eliminating tariffs on 99% of bilateral trade products.

However, there is concern in the business world, because Panama is running the risk of being left out during the initial period of the term of the agreement, it has not finished negotiating the integration protocol for SIECA or the Central American Economic Integration Secretariat, which is required in order to enjoy the commercial benefits.

If Panama's competitors in the region can enjoy the benefits and the country is left out "it would be fatal because of the damage to primary sector exports, it would hit very hard and be the final nail in the coffin," said the exporter, Manuel Fernandez

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More on this topic

Martinelli Will Promote Panama in Italy

September 2009

In his trip he will reaffirm his administration's interest in taking part of the agreement being negotiated by the EU with the rest of Central America.

The European Union is Panama's second largest trading partner, with $2 billion exchanged each year. Furthermore, Panama receives 41% of Europe's exports to Central America, and 51% of Italy's.

Central America-EU FTA Coming Into Force Soon

May 2012

In late June the Association Agreement between Central America and the European Union will be signed in Tegucigalpa, containing a section on trade which will take effect as soon as it is ratified by one of the governments of the region.

The final flourish of the Association Agreement between Central America and the European Union (EU) - which consists of three pillars: economic, political and cooperation, is scheduled for between 28th and 29th June in Tegucigalpa, during a summit of Central American presidents.

Single Declaration Form for Central American Customs

May 2013

Preparations are being made for a single form that will streamline customs trade ahead of the entry into force of the Association Agreement between Central America and the European Union.

According to the president of the Superior Council of Private Enterprise (Cosep), Joseph Adam Aguerri, already working on this issue are the Central American Integration System (SICA), and the Secretariat of Central American Economic Integration (SIEC). They are working "on a unified customs document that aims to concentrate all imports and exports," added Aguerri.

Export Quotas in the European Agreement

August 2012

A computerized system is being prepared in order to control the volume of exports to Europe by each Central American country, within the provisions of the Partnership Agreement.

An article in Laprensagrá reports that "Central America is working on the adoption of a computerized system which will keep track of the volumes of cargo that each country in the region exports to Europe under the quotas that were agreed in the Agreement Association (AA). "

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