Based on the willingness of Costa Rican authorities to raise the tariff on imported sugar from 45% to 73%, Brazil decided to raise the entry taxes on four animal products from Costa Rica.
Months ago, the private sector has been warning of the possibility that the country's trading partners would apply reciprocal measures because of Costa Rica's unilateral decision to raise entry taxes on imported sugar.
Following in Brazil's footsteps, Canada warned the WTO about the possibility of imposing compensation against the Costa Rican authorities' policy of raising the tariff on imported sugar from 45% to 73%.
As of March 15, the FTA between Taiwan and El Salvador will be null and void, a situation that will prevent the Central American country from selling 80,000 tons of sugar at favorable prices.
The Salvadoran government concluded the trade agreement with the Asian country in December last year, a decision that was not consulted with the country's productive sector and will affect sugar exports, as it will no longer have preferential treatment.
Through the treaty the Israeli market will have preferential access to Panamanian products such as vinegar, coffee, palm oil, beef, cassava, flour and beer, among other things.
The Panamanian government reported that "...In the framework of a meeting between the president of Panama, Juan Carlos Varela and the Prime Minister of Israel, Benjamin Netanyahu, a Free Trade Agreement and a Memorandum of Understanding on agricultural matters was signed."
The signing of the trade agreement is scheduled for late February, a measure that bodes well for improving access to Korean high-tech products and increasing agro-exports from Central America.
A report by Moody's analyzes the impact expected in El Salvador and in the other countries of the region, from the entry into force of the free trade agreement with the Asian nation.
Flowers, white goods, ceramics, leather products and cocoa products are among the list of 207 Ecuadorian products that will enter El Salvador with tariff preferences.
The agreement creates tariff preferences for 207 subheadings, which represent 92% of exports to El Salvador. They will enter without paying any fees.This translates into thegrowth of 20% of Ecuador's exports.
Starting from April the South American country will start implementing a timetable for elimination of the safeguard for balance of payments, reducing the current tariff levels from 15% to 10% and from 35% to 23.3%.
From a statement issued by the Ministry of Foreign Trade in Ecuador:
From April 2017 the schedule for dismantling of the safeguard measure will be implemented for balance of payments, reducing the current tariff levels from 15% to 10.0% and from 35% to 23.3%.In this regard, the reduction will apply to established customs declarations submitted from April 1, 2017.
From this year these three products will be traded duty-free under the DR-CAFTA agreement.
The tariff reduction process that started with the entry into force of the free trade agreement with the United States and Central America has now reached completion for rum, flour and fats exported from Guatemala.
"...The first product is rum, which in 2006, when the trade agreement came into effect, had a tariff base of 40 percent.Last year, the import tax had reached 3.3 percent and this year it is zero.Other products that are in the same situation are the residues from the treatment of animals and plant fats (other than poultry, cattle and pigs) and flour from wheat or morcajo (meslin), according to the Ministry of Economy."
Not fearing free trade, lowering tariffs and facilitating business development are some of the ingredients the Chilean export model that Central America could follow.
In an interview with Elfinancierocr.com, ProChile's director, Roberto Paiva, explained that one of the main reasons behind the success of his country's foreign trade model is the high degree of trade liberalization.Not only for having reduced tariffs, but also for"... 'having negotiated trade agreements. We have agreements with Europe and much of Asia. We don't yet have Africa.This opening not only lowers tariffs but brings us closer to the market and the business'. "
Under the terms of the Partial Scope Trade Agreement bovine and porcine meat from Panama will enter the Caribbean country duty-free.
Panamaamerica.com.pa reports that "...Panama received 51 additional lines in its favor which include dairy products such as cheese, a variety of fresh and frozen seafood, juices made from non-tropical fruits, flowers and foliage, fruit and vegetables, tropical fruits, flour, fat and fish oil, sausages, butter, fats, cocoa oil and salt. "
The agreement will come into effect on August 1, making 75% of industrial goods duty-free immediately and the rest within 5 to 15 years.
From 1 August the agreement will come into effect in a definitive manner, establishing, for the case of Costa Rica, that"... 4% of the products negotiated with Colombia will be liberalized in five years, while 16 5% of exports will be duty free in ten years and 4.8% to within 15 years. "
Three years after being signed, the Colombian Constitutional Court has approved the bilateral agreement that liberalizes 75% of industrial products over terms of 5 to 15 years.
This was the last institutional step needed to for the FTA between Costa Rica and Colombia, as the Central American country had completed all the necessary procedures, leaving only formal communication from Colombia to Costa Rica remaining, so that the agreement will go into force 60 days later.
Tariff preferences were negotiated in non-traditional products in sectors related to metalworking, appliances, construction, wood, plastics and agribusiness.
From a statement issued by the Ministry of Foreign Trade in Ecuador:
The deputy minister of Foreign Trade, Alejandro Dávalos, opened the Second Round of Trade Negotiations with Honduras for the signing of a Partial Agreement of Economic Complementation.
Most of the products which Nicaragua exports to the USA will continue to enjoy, for at least 10 years, tariff advantages compared to those products sold within the Transpacific Association Agreement.
From a statement issued by the US Embassy in Managua:
The Director of the Office of Bilateral Trade Affairs, Department of State, Robert D. Manogue, visited Nicaragua for the purpose of holding meetings with government cabinet members in charge of the portfolio of foreign trade and private sector members, with whom he discussed opportunities for Nicaragua to achieve greater economic prosperity.
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.