españolBAC Panama and Multibank to Compete SeparatelyMonday, December 2, 2019 Although Grupo Aval S.A. de Colombia owns both financial entities, the conglomerate has decided that the two banks will compete separately in the Panamanian market. Early last month it was reported that Grupo Aval de Colombia S.A., owner of BAC Credomatic, signed an agreement to acquire Multibank Financial Group of Panama, and according to the business group, the transaction process is expected to be completed in the second quarter of 2020.
MARKET STUDY
Fridges: Purchases from Mexico grow at 6%Tuesday, November 26, 2019 During the first half of 2019, Central American companies imported $200 million in fridges and freezers, and purchases from companies in Mexico grew 6% over the same period in 2018. Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"] Panama and Colombia Commence Second FTA RoundMonday, May 10, 2010 A second negotiation round for signing a free trade agreement between both countries started today in Bogotá, Colombia. In the first round, held on March, both negotiating teams closed the chapter of Transparency in Institutional Matters. Fuels: Terminal Expansion CompletedThursday, November 21, 2019 Chevron's $7 million investment in the Acajutla terminal in El Salvador increased its fuel storage capacity from 300,000 to 450,000 barrels. As announced in 2016, the investment in the plant expansion consisted of the construction of two tanks, each with a storage capacity of 75,000 barrels. Collaborative Economy: DiDi Arrives in Costa RicaWednesday, November 20, 2019 DiDi, an application dedicated to the transportation of people, began operating in the country on November 19, offering its services in San José, Cartago, Alajuela, Heredia and Puntarenas. At the moment, the Chinese mobile application plans to offer in the country the basic passenger transport service, however, the future plans are to provide premium care, which will include higher capacity cars and special vehicles for people with physical disabilities. Discussion Grows Over Colombia - Costa Rica FTAMonday, September 10, 2012 While Costa Rican business chambers are aligned against the Free Trade Agreement with Colombia, some individual firms want it. An article in Nacion.com reports that "Several companies expressed in the consultations for the negotiation of the Free Trade Agreement (FTA) with Colombia their individual request to open up this market, but their viewpoint is opposed by the entire sector to which they belong. New Round in Panama-Colombia FTAThursday, February 11, 2010 The second exploratory meeting for a Free Trade Agreement between Panama and Colombia is taking place in Panama City. Ministers from both countries expect to conclude the exploratory process, defining the basis for a FTA between both countries. Costa Rican Industrialists: "Without Exclusions There is No FTA"Friday, August 3, 2012 In the FTA with Colombia, if there is not an adequate exclusion of the sub sectors that could be harmed, the Chamber of Industry will not support the trade agreement. From a statement from the Chamber of Industries of Costa Rica (CICR): FTA Colombia – El Salvador Comes Into EffectTuesday, February 2, 2010 The Free Trade Agreement signed by both countries came into effect on Monday. 53% of Colombia’s industrial goods now benefit from zero tariffs when entering El Salvador. Panama - Colombia FTA in Final StretchMonday, October 25, 2010 The fifth and probably final round of negotiations for the Free Trade Agreement between Colombia and Panama is developing this week. It is expected to define the most sensitive aspects of the agreement, including complete list of market accesses, "origin rules, trade facilitation and customs cooperation, sanitary and health certifications as wells as government purchases," reported Prensa.com. Tariff Conflict: Colombia's New Offensive RulesWednesday, November 6, 2019 On November 5, a 37.9% tariff was charged on imports of clothing when its declared FOB price is less than or equal to $20, which affects businessmen in the Colon Free Zone in Panama. Decree No. 1416 of the Ministry of Commerce, Industry and Tourism of Colombia, dated August 6, 2019 and which has just come into force, states in its Article 1 that "... a tariff of 37.9% on imports of products classified in Chapters 61 and 62 of the National Customs Tariff, when the declared FOB price is less than or equal to US$20 per kilogram gross." More Trade between Colombia and NicaraguaThursday, February 15, 2018 Growth of more than 300% has been reported in Colombian exports to Nicaragua between 2016 and 2017, mainly explained by the sales of oil and its derivatives. Data from ProColombia provided by the Colombian Embassy details that exports from the mining sector led the growth of 362% reported in exports between 2016 and 2017. Exports from other sectors, such as agri-food, metal-mechanics and chemicals also registered double-digit increases. FTA Doubles Trade Between Guatemala and ColombiaWednesday, March 27, 2013 In the three years that the FTA has been in effect the trade balance favorable to Colombia increased from $251 million in 2009 to $527 million in 2012. The nations of the Northern Triangle of Central America, Guatemala, Honduras and El Salvador, have a free trade agreement with Colombia, whose enactment in 2010 produced immediate effects, rapidly increasing trade in goods and services between the FTA parties. Costa Rica: Food Industry and the FTA with ColombiaThursday, March 7, 2013 After the close of negotiations, food business operators have applied for better access to raw materials and an aggressive agenda to boost competitiveness. From a statement from the Costa Rican Chamber of Food Industry (CACIA): Panama and Colombia Restart FTA TalksWednesday, February 27, 2013 From 11 to 15 March 2013 the two countries will resume trade agreement negotiations in a sixth round to be held in Medellin. Capital.com.pa reports that "the Minister of Trade and Industry (MITI), Ricardo Quijano, formally announced the relaunch of trade negotiations between the Republic of Panama and the Republic of Colombia, which have been suspended since October 2010, during the V round of negotiations, held here. " |
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Monday, December 9, 2019 - last update: 6:04 pm
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