Panama President Laurentino Cortizo said he intends to immediately restart negotiations with China over a free trade agreement, after conversations were put on hold during the pandemic.
Panama submitted a formal request to revise the agricultural tariff elimination terms of the US FTA. US agriculture groups urge the Biden administration to oppose any changes to agricultural tariffs, TRQs or safeguards.
Panama said it had requested a review of the terms and conditions of a trade agreement in place with the United States since 2012.
The Qatari government is facing a $6 billion international arbitration claim stemming from a case against a member of the country’s ruling family.
South Korea said its free trade agreement (FTA) with a group of Central American nations will be fully implemented starting next month as Panama completed its domestic procedures.
The US subsidiaries of Bridgestone Corporation lost a $20 million plus arbitration claim against the Republic of Panama filed by under the US-Panama Trade Promotion Agreement.
South Korea signed the FTA with Panama and the four Central American countries — Honduras, Nicaragua, Costa Rica and El Salvador — which have already finished the domestic procedures for the agreement.
A free trade agreement between Israel and Panama entered into force on January 1, granting preferential market access for goods and aiming to eliminate trade barriers between the countries.
China’s expansion in Latin America of its Belt and Road initiative to build ports and other trade-related facilities is stirring alarm in Washington over Beijing’s ambitions in a region that American leaders since the 19th century have seen as off-limits to other powers.
Chile and Panama offer China two important physical entry points into Latin America. Chile features an attractive legal framework for the protection of Chinese investments in the country. Panama is following suit. A ripple effect in the region is foreseeable.
The third negotiation round will aim to advance in barriers and the facilitation of trade, customs procedures, intellectual property and electronic trade.
Panamanian and Chinese officials will launch the first round of trade negotiations in Panama City with the aim of eventually inking a free trade agreement.
Panama’s trade and industry minister hopes that a free trade agreement between Panama and China will especially benefit the infrastructure, agriculture, logistics, energy, tourism and e-commerce sectors.
A letter sent by the Trump Organization’s lawyers reminded President Varela of Panama’s obligations under a 1983 treaty that protects the rights of investors from the United States.
The officials will likely discuss the impact that the trade agreement could have on their economic and business relations.
Panama and China will begin negotiations in June 2018 to sign a free-trade deal, consolidating a relationship that has strengthened after the Central American nation ditched ties with Taiwan.
Parliamentary debate heats up in Panama concerning the country’s involvement in alleged secret talks for a Trade in Services Agreement between 23 members of the World Trade Organization, including the European Union.
South Korea and a group of Central American countries have tentatively signed a free trade agreement.
"Panama is a world leader when it comes to allowing large corporations to evade US taxes. And the Panama free trade agreement would make this bad situation much worse," Sanders warned in 2011.
New York-based Dominion Minerals Corporation decided to move ahead with an investor-state dispute case against the Panamanian government.