FTA Colombia – Panama to Take Longer than Expected

At least two or three additional negotiation rounds will be necessary to close the Free Trade Agreement between the countries.

Monday, June 28, 2010

In addition to the core topic of “what, how much and how” to remove tariffs between both countries, there will be tough discussions regarding rules of origin, labeling and customs regulations. These issues will push back the negotiation beyond June, so the conclusion of this agreement will be a responsibility of the upcoming Colombian government of Manuel Santos.

Leonardo Sicard Abad, trade consultant, explained that “the [Colombian] priority is to ensure that Panamanian goods sold in Colombia comply with rules of origin, as a result of clear custom cooperation processes”.

Dinero.com noted that “many businessmen feel this FTA is moving too slow, but they expect the delays to be useful for guaranteeing two-way benefits”.

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