Panama-Colombia FTA to Eliminate Tariffs

Once the trade agreement is signed between the two countries tariffs that the South American nation excises on textiles and leather from the CFZ will be removed.

Thursday, September 12, 2013

The information was confirmed by President Ricardo Martinelli, after a meeting with his Colombian counterpart. The president said that the trade agreement will be signed next week.

According to Martinelli, the tariff is applied only to countries that do not have an FTA with Colombia.

Regarding the debt held by Venezuela to the Colon Free Zone, the president said he will visit the country again in order to organize collections. "We have to defend what is ours, it cannot be the case that, according to the press, they already made thousands of redundancies and simply put this affects traders," he added.

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Signing of the Panama-Colombia FTA

September 2013

On September 20 the trade agreement will be signed in Panama City after it has been ratified by the respective legislatures.

"We have everything finalized for the signing of the treaty with Colombia on Friday September 20," said Ricardo Quijano, Panama's Minister of Commerce and Industry.

Commission to Discuss Venezuela's Debt with CFZ

July 2013

Panama and Venezuela are to create a bilateral technical committee to reach an agreement on the debts held by Venezuelan entrepreneurs with the Colon Free Zone.

According to Panamanian Foreign Minister Fernando Nunez, "the first payment will be made almost immediately." "The new program agreed by the Government of Venezuela enables these companies to pay off their debts directly with the Colon Free Zone," he said.

More Colombian Taxes on CFZ

July 2013

The Colombian government could apply taxes on re-exports from the Colon Free Zone, on appliances, auto parts and other goods.

The Association of Users of the Colon Free Zone (CFZ), has expressed concern, as these new taxes could add to the damage caused by the tax on textiles and footwear which has been in force since March.

Panama: Colombian Excess Tariffs Wont Hinder FTA

June 2013

The Minister of Commerce and Industry said that although Colombia is maintaining its excess tariffs on the CFZ, the FTA between the two countries is moving ahead.

"After starting negotiations for a free trade agreement (FTA) with Colombia, without having dealt with the request from businesses in the CFZ, the goal now is to raise a complaint with the World Trade Organization (WTO) in order to mitigate the effect of the Colombian excess tariffs", reported Prensa.com.

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