Panama Requests CBI Extension to the U.S.

The government requested an extension of the benefits of the Caribbean Basin Initiative (CBI), until the FTA is ratified.

Wednesday, September 30, 2009

Roberto Henríquez, Commerce and Industries Ministry, said that "This commercial program is of utmost importance for Panama's exporters until the U.S. ratifies the Free Trade Agreement, which will strengthen even more our trade relationship with the North American market".

"Herníquez explained that they presented the U.S. their arguments and considerations for extending the program...", reports Google News.



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Pineapple Producers’ High Expectations

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The coming into force of the Trade Promotion Agreement (TPC in Spanish) between Panama and the U.S. has enthused farmers in La Chorrera, the national center of pineapple production.

So far the main market for Panamanian pineapples has been the European Union, the implementation of the TPC is bringing hope of access to a more transparent buyer's market less affected by large companies with the buying power to keep prices down.

GSP+ Two Year Extension

November 2011

The Generalized System of Preferences (GSP +) will extend for a further two years from 2012, until the Association Agreement with the EU becomes active.

The director of trade policy at the El Salvadoran Ministry of Economy, Carlos Moreno, said that once the country’s Assembly has ratified the Association Agreement with the EU, the GSP + will lose its scope.

U.S. Extends Tariff Benefits for Panamanian Apparel

May 2010

The U.S. Government extended Panama’s tariff benefits for apparel goods until September 2020.

In order to export textile goods with zero tariffs, Panama may not use more than 200 million meters of fabric imported from other nations, informed the Commerce Ministry.

Prensa.com reported that although textile companies see this extension with good eyes, they demand additional production incentives for their industry.

US extends CBI until 2010

January 2009

The preferential tariffs that the US gives to Central America and the Caribbean was to expire this year, however it was extended until 2010.

According to prensa.com, "The United States has extended the Caribbean Basin Initiative (CBI) until 2010.

A spokesperson for the US Embassy in Panama confirmed that the program "has been extended"."

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