More Challenges to Maritime Services Act

At the Office of International Trade Negotiations at the Ministry of Commerce the negative impact that it would have on the country's maritime activity has been noted.

Tuesday, June 11, 2013

The law has been harshly criticized by the Ministry of Commerce and Industry (Mici), who also considered that the agreements violate promotion and protection of investments and trade agreements signed by Panama.

If the project is approved, Panama could be subject to international lawsuits by countries with which it has signed free trade agreements, explained the technical staff of the Office of International Trade Negotiations Mici.

Ivelin Herrera, a member of the organization, informed Congress that they had received a communication from the U.S. Embassy who is "very concerned about this issue." Herrera also said that the project is not consistent with the vision of openness in maritime issues.

Joseph DiGeronimo, from the Panama Maritime Chamber, said that his organization opposes most of the rules established in the bill. "We are against the establishment of foreign investment restrictions."

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