Roberto Henríquez, Commerce and Industry ministry, announced that “yesterday, the European Commission confirmed Panama as one of the countries included in the Generalized Tariff Preferences System (SGP-Plus), starting on July 1st”.

The country’s reincorporation will be in effect until December 31, 2011.

Henriquez remarked that “with this reincorporation, the Government will no longer need to continue subsiding exporters through the so called ‘Euro-Bonds’, which made up for losing the preferences”.

Source: Prensa.com

More on this topic

Guatemala Could Push Back EU Agreement

April 2010

If the European Union does not make more flexible its postures, Guatemala would request Central America to push back the signature of the agreement.

Economy Minister Rubén Morales stated that if the country does not receive more benefits than the current Generalized Preference System (SGP-plus), Guatemala could recommend against signing the agreement.

EU extends trade benefits to Costa Rica

December 2008

The European Commission announced that it will grant tariff free access to thousands of Costa Rican products starting next year and until 2011.

The measure from the EC grants an extension of the General Preferential System (SGP-Plus) to Costa Rica and 15 other developing countries, including, several from Latin America.

Analysis of the V Round of the EU-CA Association Agreement

November 2008

The main result of the meeting held in Guatemala in October was the longed-for SGP+ for CA.

During the V Round of the Association Agreement between Central America (CA) and the European Union (EU) the biggest advancement regarding trade was the EU's offer of making 94% of the products tariff-free. In return, the Eu demanded a similar opening by CA.

Companies on the Isthmus demand that their interests be attended to by the EU

August 2008

Central American businessmen say that "there are still strategic interests in the region that have not been dealt with by European negotiators."

On day four of the XIV Central America planning session for the Association Agreement with Europe, Julio Aguilar, negotiator for the International Commercial Negotiations Business Center (Cencit), said that while Central America continues to broaden its offer to their European counterparts, not at more that 80% of the products on the tariff list, Europe has still not guaranteed the whether all the benefits derived from the General Preference System Plus (SGP Plus) will be maintained.