The recent resolution No. 0043 of August 7, 2012, in its first article states that all draft agreements and resolutions of the General Superintendency of Banks, will meet the transparency requirements required by Article 12.11 of the TPA with the USA. These projects will be published in advance so that the people involved in them can make inquiries or comments on them.

The bank claims to have implemented mechanisms of transparency in their process of issuing rules.

Panamaamerica.com.pa quoted Nicolas Ardito Barletta, a member of the Board of Directors of the Superintendency of Banks who said, "A resolution has been approved which is consistent with both the law of Panama and with the practices already carried out by the Superintendency for procedures of TPA. The statements in the resolution seeks to adjust the procedure of issuing general rules of transparency to the guidelines contained in the TPA Panama / USA ....

Source: Panamaamerica.com.pa

More on this topic

Panama: More Legal Adjustments to Comply with TPC

August 2012

The government has proposed bills relating to Copyright, Intellectual Property Protection of New Varieties of Plants, among other things.

An article in Laestrella.com.pa reports that "The Government of Panama has adopted concrete measures towards enactment of a Trade Promotion Agreement (TPA) to be signed with the United States scheduled for October, after four bills were approved yesterday, Tuesday 14 August, in the Cabinet, including one related to Copyright and related Rights, and introducing amendments to the Copyright Act, informed the Secretary of State. "

No Change in TPA US-Panama.

July 2012

The Minister of Trade and Industry, Ricardo Quijano said that issues relating to labor, industrial and intellectual property, have already been finalized in the negotiations.

Minister Quijano insisted that there need be no cause for concern for Panamanian businessmen, because "there have been no changes to the Trade Promotion Agreement (TPA) signed."

The FTA with the U.S. and the Poultry Industry

January 2012

Although gradual, tariff reductions on chicken from the U.S. pose a threat to the poultry industry in Panama.

Currently tariffs on imports of chicken meat is 260% for chicken thighs and drumsticks. This protection for the local industry will gradually disappear, according to provisions by the Trade Promotion Agreement signed with the northern country.

U.S. Trade Agreements

October 2011

The approval of the US-Panama FTA. brings to the fore the urgent need to increase competitiveness in the economy in order to reap the real benefits of that agreement.

When the economy of the United States and those in the rest of the world were booming, free trade agreements offered an immediate benefit in increased business transactions benefiting from the tariff preferences established in them.