Panama - Israel FTA Progresses

The Panamanian Executive approved to submit to the National Assembly the Bill that approves the Free Trade Agreement between the Republic of Panama and the State of Israel.

Monday, September 2, 2019

The FTA between Panama and Israel was signed on May 17, 2018; and among the advantages and incentives offered by the canal isthmus is the unique connectivity and the strong offer of logistics services, useful for Israeli companies as a platform for expanding their presence in Latin America, informed the Ministry of Commerce and Industries (MICI).

From the MICI statement:

August 2019. The Cabinet Council approved, in its session today, to send to the National Assembly of Deputies the Bill that approves the Free Trade Agreement between the Republic of Panama and the State of Israel.  The initiative was presented by the Minister of Commerce and Industries, Ramon Martinez, highlighting opportunities for the sectors of agrotechnology, pharmaceuticals and biotechnology, infrastructure for the use of water and energy, and innovation and development.
 
The Minister of MICI highlighted that the Israeli economy is among the most competitive on the planet, ranked in the twentieth position of 140 in the latest Competitiveness Index of the World Economic Forum.  "In production incentives, its financial sector is the second best prepared in the world to support industries.  This is the main added value that the MICI would be looking for with this commercial partner", said.
 
The Minister of Commerce explained that among the results achieved through this trade agreement is immediate access to the Israeli market for agricultural products such as: frozen beef and hamburger, palm oil, cassava, rum and vinegar; seafood such as sole, tuna, cobia, fresh tilapia and lobster, among others; as well as industrial products such as soap powder and paste, cement and aluminum profiles.
 
The FTA with Israel also includes quotas for exports to Israel of items such as pineapple, papaya, fresh or chilled beef. Meanwhile, products such as watermelon, banana, yam, shrimp and tuna will receive tariff reductions.

Read full statement (In Spanish).



More on this topic

Panama-Israel FTA in Force

November 2019

On November 1, 2019, the Free Trade Agreement between the two countries entered into force, which promises to boost exports from the Panamanian agricultural sector.

With this agreement, which was signed in May 2018, the country will have immediate access to the Israeli market for agricultural products such as: frozen beef and hamburger, palm oil, cassava, rum and vinegar.

Panama - Israel FTA Ratified

October 2019

The National Assembly of Panama approved in third debate the Free Trade Agreement between both countries, signed in May 2018.

Some of the results that will be achieved with the entry into force of this agreement include immediate access to the Israeli market for agricultural products such as: frozen beef and hamburger, palm oil, cassava, rum and vinegar.

FTA Panama - Israel Approved in First Debate

October 2019

The National Assembly approved in first debate the bill of the Free Trade Agreement between the State of Israel and Panama, signed in May 2018.

The Foreign Affairs Committee approved in first debate the bill of the Free Trade Agreement between the State of Israel and Panama, informed the National Assembly last October 2.

Israel-Panama FTA Talks Completed

November 2015

The basis for the agreement have been established, with Panama having achieved immediate preferential access for various agricultural and fisheries products, and access through quotas for beef, pineapple, papaya and tropical fruits.

After four rounds of negotiations between teams from each government, a basic document was created setting out the conditions of entry of products and services to each market.

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