The Trade Conflict between Panama and Colombia

Colombia alleges that it needs more time to implement necessary changes to its laws in order to remove trade barriers on Panamanian products.

Friday, June 19, 2009

The article from Prensa.com, points out that, “On May 20th, the OMC announced that its department for the Solution of Controversies condemned Colombia for its violation of international trade laws for impeding the import of Panamanian products like textiles, most frequently originating from the Free Trade Zone of Colón to Colombian ports.”

At the end of the first 30 days established so that both sides can reach an agreement over eliminating these restrictions, each country presented their cases before the OMC, which would give them an extension of 15 days to reach an agreement. If an agreement isn’t reached within this period, the department for the Solution of Controversies of the OMC would have the responsibility to produce a definite resolution within 45 days.

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