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.

Panamá América highlights in its web portal the comments made by Máximo Gallardo, president of the Panamanian Association of Exporters (APEX), “...the eurocertification mechanism should be a fast process, just as it had been established....According to the regulation, ...they would be submitted based on a 30 day-term. ..”

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Panamanian Euro-Certificates are Unused

May 2009

Agro-exporters are not using Euro-Certificate alternatives because they consider that the "procedure is complicated."

The president of the Panamanian Association of Exporters (APEX), Max Gallardo, said that delays in issuance and indirect costs cause many exporters to bear the cost of the loss of EU tariff preferences.

Panamanian government seek fix to EU tariff situation

December 2008

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.

The president of the Panama Exporters Association (Apex), Maximo Gallardo, confirmed that he took part in two meetings with the Mici on Thursday and Friday past, and that this week they will present the proposal to the Assembly to create a bond that will cover the additional costs for exports to the European Union.

Panama could be left without SGP+

December 2008

Exporters requested an explanation from the Government for the negligence that will probably exclude the country from the preferential tariffs system.

"It will be very difficult to correct this error, and even more difficult for the EU to break its procedure in order to help Panama, since they would be setting a precedent for other countries that did not complete the requirements either," said the president of the Chamber of Commerce and Industry, Adolfo Linares.

Governments of Panama approves the Eurobond law

January 2009

The purpose of the law which creates the eurocertificates (eurobonds) is to compensate the loss of preferential tariffs with the European Union. reports: The eurocertificates will function as tax bond certificates (CAT) as they will be used to pay taxes, and they can also be used to carry out the transfers that currently take place in the market.

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Asociación Guatemalteca de Exportadores -AGEXPORT-

The Guatemalan Exporters Association is a private non-profit entity, established in 1982; that represents, promotes and develops non traditional exports of Guatemalan companies.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Guatemala
Phone: (502) 2422-3400

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