Europe Does Not Require Customs Interconnection

The Association Agreement between the region and the EU will start without having completed the process of a customs union, and without having created a common tariff.

Wednesday, July 20, 2011

This is what officials declared at the European Union Trade Commission, "there are marked differences between the Central American nations that can not be dissolved by sheer force, because they have come about by historic events."

Karel De Gucht, chairman of Commerce of the Commerce Committee, "also hinted at this possibility, but stressed that the private sector in the region has in its hands the possibility to promote both processes, which would be in their interests", reported Sigloxxi.com.gt

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Law 41, which limits foreign investment in companies engaged in auxiliary maritime services, could jeopardize trade relations between Panama and the EU.

Prensa.com reports that "The law, passed in June of this year, states that 75% of the shares of companies engaged in auxiliary maritime services for barges and boats must be owned by Panamanians".

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The meeting of technical groups from the countries of Central American Integration System (SICA) in El Salvador ended with significant advances

Progress was made in the preparation of some 15 rules of origin and the harmonization of tariffs for different products.

Deputy Minister of Economy of El Salvador, Mario Hernandes, told Reuters, "Decisions made in the technical rounds will be passed up to the technical and deputy ministers of Trade and Economy for approval."

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The European Union formally accepted the inclusion of Panama in the negotiations for an Association Agreement with Central America.

This way, EU recognizes Panama as part of the Central American block, despite the fact that it is not a member of the Central American Economic Integration Secretary (SIECA).

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

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