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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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.

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