Government of Panama to compensate exporters.
Negligence on the part of Panamanian authorities that led to the loss of preferential tariffs granted by the EU will be covered with public funds.
Friday, December 12, 2008
Yesterday the vice minister of Foreign Trade, Severo Sousa, promised a group of organized exporters that he will present an aid package for the export sector to Cabinet that will include reimbursing tax paid in Europe via a compensation fund.
The proposal would act to minimize the impact of the loss of the Generalized System of Bonus Preferences (SGP+)
Panamanian businessmen accuse the Government of not accepting their mistake and fear that the conflict will affect other issues on the European agenda.
The Ministry of Trade and Industry (Mici) continues to work on trying to find a solution to the EU's decision to exclude Panama from the preferential tariffs.
Exporters requested an explanation from the Government for the negligence that will probably exclude the country from the preferential tariffs system.
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