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 toPrensa.com.



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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.

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 Laprensagráfica.com 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). "

Panama Proposes Negotiation with EU

October 2009

In the proposal, dubbed "Five plus one", the country commits to making the necessary changes without economic integration with the region.

One of the changes would be the adoption of a unified tariff code with Central America.

"This proposal seems to have changed, at least partially, the posture of the European Union, who had initially conditioned Panama's participation in the Agreement to the country joining Sieca (Central American Integration System)", reported prensa.com.

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.

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