españolPanama Negotiates Debt with VenezuelaThursday, October 30, 2014 The Panamanian government aims to agree a plan with a deferred payment model established in a period not exceeding 18 months, with guarantee and support from the government of Venezuela. Of the $1 billion that Venezuela owes Panamanian companies, about half are debts with Copa Airlines, followed by companies in the Colon Free Zone. Panama: Halt on Mining ConcessionsWednesday, January 7, 2015 The Varela administration has announced that it will analyze revoking the concession granted to Petaquilla Minerals to operate at Molejón and freeze the paperwork for new mining concessions. Despite the large mineral potential in Panama, the Minister of Commerce and Industry, Meliton Arrocha, announced that mining concessions have been frozen pending audits of permits issued in previous administrations. Panama Suspends Ratification of FTA with ColombiaWednesday, January 7, 2015 The government has announced that it will not ratify the trade agreement until the conflict caused by the tariff of 5% added to textiles and footwear coming from the Colon Free Zone is resolved. Meliton Arrocha, Minister of Commerce and Industry of Panama, announced that the measure has already been communicated to the Colombian government, to whom there was was a call made for dialogue under international trade rules in order to resolve the existing trade disputes. Panama: Incentives for Business SectorMonday, November 2, 2015 A bill which has already been approved in second debate provides for production incentives, which vary depending on whether the companies are engaged solely in the local market, the international market or both. From a statement issued by the National Assembly of Panama: Panama and Venezuela Resume Talks Over DebtWednesday, November 19, 2014 The two governments have agreed to establish working groups in order to negotiate the payment of Venezuela's debts with companies in the Colon Free Zone and Copa Airlines. Deputy Minister of Foreign Trade, Nestor Gonzalez, will manage the working group that will attend to the subject of outstanding debts to Copa Airlines, while Surse Pierpoint will attend to the issue of settlements for companies established in the Colon Free Zone . Panamanian Coffee: Trade Show Promoted in USWednesday, February 11, 2015 The Ministry of Trade and Industry is inviting coffee producers to participate in an exhibition of specialty coffees, to be held from April 9 to 12 in Seattle. Nine Panamanian producers have already confirmed their attendance at one of the most important trade fairs in the US coffee industry: the Speciality Coffee Association of America 2015 (SCAA). The Arabian and Geisha coffee varieties will be promoted by the businesses Hiu Coffe, Don Pachi Estate, Carmen Estate Coffee, Casa Ruiz, Café Kotowa, Hacienda Esmeralda, Café Volcán Barú and Beneficios de Café de Boquete. Trade in Colon Free Zone Down 12%Wednesday, January 14, 2015 The tariff problems with Colombia and the debt held by Venezuela explain part of the 12% drop in trade in the CFZ, which went from $27,400 million in 2013 to $24,000 million in 2014. In the past two years trade in the Colon Free Zone (CFZ) fell by $6.7 million and an improvement is not foreseen in 2015 as there is no sight yet, at least in the short term, of a solution to the tariff of 5 % added by Colombia to textiles and footwear coming from the Colon Free Zone. Notice of Cancellation Given to Petaquilla GoldThursday, January 22, 2015 Petaquilla Gold has been granted 180 days to catch up with outstanding payments of royalties, fees to the Social Security Department and other payments. From a statement issued by the Ministry of Commerce and Industry of Panama (ICIM): Price Controls Continues in PanamaTuesday, June 16, 2015 Price controls will be extended for six months, and authorities are contemplating including in the list of regulated goods coffee, pasteurized milk, sugar, and oil. The Price Adjustment Committee has recommended that the 22 products under price regulation be maintained, and that 4 more be included. This is intended to force lowering of prices for the products involved, a measure that has been prolonged for the second time this year. Change in Composition of Panamanian ExportsMonday, August 18, 2014 A decrease in exports of agricultural and industrial goods and rising imports of value-added goods reflect the country's transformation towards a service economy. In the first five months of the year imports of agricultural and industrial goods grew by only 3.3% compared to the same period in 2013, while imports of consumer goods composed of non-durable goods (food), semi durable goods, housewares and fuel , increased by 9.3% in the same period. More Multinationals in PanamaMonday, October 6, 2014 New licenses have been approved for five multinational companies in the finance, engineering and customs security sectors, who will operate under the incentive scheme of Act 41 of 2007. The companies which were recently authorized to operate under the Law of Multinational Companies come from countries such as France, South Korea, Switzerland, China and the Netherlands. Panama Wants to Export More Beef to the USAWednesday, September 17, 2014 The government is negotiating with health authorities in the US the vetting of new abattoirs in order to adapt to the regulations required in the North American country. The negotiations between the Panamanian government and the Office of Agricultural Affairs of the United States could boost exports of beef, which in the first six months of the year fell by 7.3% compared to the same period in 2013, according to figures from the Comptroller General of the Republic. Panama: Training in Food InnovationFriday, November 14, 2014 Between November 17th and 21st the Ministry of Commerce and Industry will be holding seminars on innovation in developing food products for export companies. From a statement issued by the Ministry of Trade and Industry (MITI): Panama: More Products with Controlled PricesWednesday, November 26, 2014 The Government is considering to include in the list of products which have price controls, new ones which have had "unjustified increases" in prices. Price regulation could be extended to more than the 22 products in the basket, because some foods have seen increases that have not been properly justified according to the Ministry of Trade and Industry. Some of these products are cooked ham, fruit drinks, lettuce, and mayonnaise, among others. Panama: Price Controls ExtendedThursday, December 18, 2014 The government has announced that price controls on 22 basic products in the basket will be maintained throughout the first half of 2015. From a statement issued by the Minister of Commerce and Industry of Panama (ICIM): |
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Friday, March 24, 2023 - last update: 2:41 am
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