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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More on this topic

Promoting Colón Free Zone in Colombia

August 2017

Businessmen from the Colombo - Panamanian Chamber are analyzing the possibility of organizing a trade mission to the South American country to promote Free Zone services.

Colombian entrepreneurs may not be using the ZLC to bring goods from Asia, but instead, could be trying to do so directly with Asian countries such as China. This is the argument put forward by representatives from the Colombo - Panamanian Chamber of Commerce, who intend to organize a trade mission to promote the advantages offered by the ZLC to trade with Asia.

Panama: New Tariffs Against Colombia In Effect

August 2016

Import tariffs on flowers will rise from 15% to 30%, those on cement clinkers from 0% to 30%, and import duties of clothing will go from between 10% and 15% to 30%.

The increase in tariffs comes on top of a 7% payment on account of the Tax on the Transfer of Goods, Furniture and Services (ITBMS) in the case of cement clinkers and clothing. See decree published in the official newspaper La Gaceta.(In Spanish)

Panama: The Colombians that Colombia Discriminates Against

April 2016

Colombian businessmen have pointed out the damage caused to their business dealings with Panama by the respective governments inability to resolve continuing conflicts over the sharing of financial information and tariff policy.

Representatives from the Colombian Chamber of Commerce - Panama stressed the importance of Panama not only as a financial center but as a destination for its exports and investments, and urged government authorities to more quickly resolve the differences on issues of tariff policy and exchange of financial information. Currently the two countries are in the midst of a conflict over the charging of a tariff imposed by Colombia on footwear, textiles and clothing from the Colon Free Zone.

Agenda of the Presidents of Panama and Colombia

August 2013

Businessmen from both countries are pay attention to the dialogue on tax information, tariffs on re-exportations from the CFZ, the Trade Agreement, and the electrical interconnection.

Larepublica.com reports: "Today sees the start of a new stage in the Colombian-Panamanian relationship with President Ricardo Martinelli's visit to Colombia, for a meeting with President Juan Manuel Santos".

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