Panamanian Exporters Demand Payment of Eurobonds.
To date, 100 requests have been made that represent about $300,000, but the government has not made any payments.
Wednesday, June 10, 2009
The eurocertification mechanism was implemented six months after the country was excluded from the Generalized System of Preferences (SGP-Plus) that is granted by the European Union.
Agro-exporters are not using Euro-Certificate alternatives because they consider that the "procedure is complicated."
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.
The purpose of the law which creates the eurocertificates (eurobonds) is to compensate the loss of preferential tariffs with the European Union.
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