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TRADE AGREEMENTS OR NEGOTIATIONS
Why FTAs are necessary to Panama?
As part of its trade integration policy, the Republic of Panama has engaged in trade agreements, some in force and some others in current negotiation. In this connection, Panama has negotiated with El Salvador, Taiwan, Singapore and Chile; and is negotiating with United States and Central American countries. Trade agreements are basically a legal tool to dynamize our economy, and generate growth to reduce poverty.
FTAs are convenient to Panama because we are a small economy, traditionally dependent on world trade. On this regard, FTAs help:
- To promote the conditions for fair competition.
- To increase the opportunities for investment.
- To provide adequate protection for intellectual property rights.
- To establish efficient procedures for the implementation of FTAs and for the solution of controversies.
- To promote bilateral, regional and multilateral cooperation with other countries.
- To eliminate barriers that affect or distort trade.
- To get better prices for consumers.
- To promote transparency within governmental procedures.
- To streamline the national productive system.
- To create new business through national and foreign investments.
- To improve inhabitants’ life conditions, through the generation of new jobs.
Trade Agreements in force
Multilateral And Regional Scope Agreements
World Trade Organization (WTO)’s member since September 6th, 1997.
Free Trade Agreements
Panama – El Salvador
Date of Signature: February 6th, 2002 Bilateral Protocol Between El Salvador and Panama to the Free Trade Agreement Between Central America and Panama.
Date of Signature: March 6th, 2002 |
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Panama – R.O.C. Taiwan
Date of Signature: August 21st, 2003 Entry into Force: January 1st, 2004 |
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Panama – Singapore
Date of Signature: March 1st, 2006
Entry into Force: June 20th, 2006
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Preferential Trade Agreements
Panama – Costa Rica
Date of Signature: June 8th, 1973
Entry into Force: in Costa Rica: Law No.5252, July 18th, 1973, Official Gazette No. 142. Regulations to the Free and Preferential Trade Agreement Between Panama and Costa Rica Date of Signature: April 23rd, 1986
Entry into Force:
- In Costa Rica: Decree No.17188-MEC, September 12th, 1986, Official Gazette No. 183.
- In Panama: Decree No. 49, August 18th, 1986, Official Gazette No. 26.638
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Panama – Guatemala
Date of Signature: June 20th, 1974 Entry into Force: April 25th, 1975 |
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Panama – Honduras
Date of Signature: November 8th, 1973 Entry into Force: February 14th, 1974 |
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Panama – Nicaragua
Date of Signature: July 26th, 1973 Entry into Force: January 18th, 1974 |
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Economic Complementation, Partial Scope Agreements
Panama – Colombia
Partial Scope Agreement Number 29 Date of Signature: July 9th, 1993 Entry into Force: January 18th, 1995 |
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Panama – Mexico
Partial Scope Agreement Number 14 Date of Signature: May 22nd, 1985 Entry into Force: April 24th, 1986 |
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Panama – Dominican Republic
Trade Agreement Date of Signature: July 17th, 1985 Entry into Force: June 8th, 1987 |
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General Association and Cooperation Agreements
FREE TRADE AGREEMENTS IN NEGOTIATION (only Spanish)
Panama – Costa Rica |
Panama - Nicaragua |
Panama - Guatemala |
Panama - Honduras |
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APPROVED FREE TRADE AGREEMENTS IN PROCCESS OF BEING IMPLEMENTED (only Spanish)
Related sites:
Ministry of Trade and Industry of Panama (MICI) (Only Spanish)
Organization of American States (OEA) Foreign Trade Information System (SICE) (ENG/ESP/FRA)
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