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Panama Membership in Free Trade Agreements

Discuss the sanitary standards, prohibited imports regulations, licenses, and free trade zone in Panama.

Panama Membership in Free Trade Agreements

Postby bridgat » Tue Nov 18, 2008 6:08 am

On June 30, 2007, the GOP and the USG signed a FTA, which is now subject to ratification by these countries' respective legislatures (US ratification pending).

Panama has FTAs and applies preferential rules of origin under trade agreements which, at the beginning of 2007, were in force with Chinese Taipei, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Singapore.

Under the Partial Scope Agreement with the Dominican Republic, if the change of tariff classification method contained in the specific rules cannot be applied, then it becomes necessary to comply with the level of regional content value specified for the product in its specific rule.

Under the Partial Scope Agreement with Colombia, the general criterion for the determination of origin is a change of tariff classification through a change of tariff heading. In the case of products for which there are no specific origin requirements resulting from an assembly or erection process, or products whose tariff subheading is the same for both the goods and their parts, origin may be conferred without change of tariff heading if the c.i.f. value of the materials originating in third countries does not exceed 60 per cent of the f.o.b. value of the end product. Specific origin requirements take precedence over general criteria.

Under the Partial Scope Agreement with Mexico, the determination of the origin of products is subject to the specific origin requirements laid down in Annex II to the Agreement. Those products for which there are no specific requirements are subject to the LAFTA general rules of origin. Under these rules, origin is conferred on products: (i) if they were manufactured in the territory of one of the signatories using exclusively materials from other signatories; (ii) if materials from non-participating countries were used and there has been a change of tariff heading; or (iii) in the case of assembly or erection operations, the c.i.f. value of the inputs of materials originating in third countries does not exceed 50 per cent of the f.o.b. value of the end product
bridgat
 
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