The trade deal would leave tax shelters for AIG and narcotraffickers intact while removing existing US tools to combat tax evasion and other financial crimes
A Democratic senator from Ohio is moving to further tie up pending US free-trade agreements with Panama, Colombia and South Korea, setting up a potential clash between President Barack Obama and some members of his party.
Anger is brimming over in diverse corridors over the Bush hangover agreement with Panama, and the new rights it would give to AIG-linked bodies in Panama to sue US taxpayers.
Under the Panama FTA, AIG-Panama would be able to sue the US taxpayer for cash damages by claiming common regulatory actions were "tantamount" to an ("indirect") "expropriation."
Panama, Colombia and South Korea need to resolve a number of outstanding concerns before Congress will approve free trade pacts with each of those countries, a US lawmaker said on Wednesday.
Around 350 US national, state and local groups from religious to environmental sectors, representing a combined total membership of 18 million, sent a letter to the House of Representatives asking lawmakers not to ratify the free trade agreement between Panama and the United States, insisting that Panama’s economy thrives on banking secrecy and money laundering
54 democrat congressmen sent a letter to President Barack Obama asking him to forego the Free Trade Agreement with Panama, because it has refused to sign any tax information exchange treaties.
President Barack Obama plans to ask Congress to approve a long-delayed free-trade agreement with Panama and work to resolve remaining issues with the South Korea and Colombia accords so they can be ratified.
The free trade agreement between Panama and Honduras took effect on Jan. 9. The agreement has an impact on 80 percent of the goods traded between the countries.
There have been important advances in respect to the negotiation of goods and the access to loan and investment services a spokesman of the Panamanian Commerce and Industry Ministry.
A visit by US Secretary of State Condoleezza Rice sparked protest yesterday in the streets by opponents of free trade with the North American giant, a subject Rice is set to discuss here in a conference today.
Panama and Canada on Monday began a second round of talks in their effort to reach a free trade agreement (FTA).
A delegation of Panamanian trade officials was in Ottawa last week to launch free-trade negotiations with the Canadian government. The first round of negotiations came after a successful "exploratory process," including one meeting in Ottawa in May and another in Panama City in July. The Canadians also undertook a month-long consultation with Canada’s provinces and territories as well as with businesses, industry associations and the public.
Costa Rica’s Legislative Assembly ratified in second and final debate a free trade agreement with Panama that will open up the commercial channels between the neighboring nations.
A day ahead of a scheduled meeting with US President George W Bush, Panamanian President Martin Torrijos continued pushing Tuesday for approval of a free trade deal between the countries. Wal-Mart Stores Inc. also vowed to continue fighting for passage of the agreement and pledged to continue that fight for years, if necessary.
The Bush administration, Republican lawmakers and business groups pressed House Speaker Nancy Pelosi on Wednesday to allow votes on free trade pacts with Colombia, Panama and South Korea by the end of the year.
President George W. Bush does not want Congress to vote on a free trade agreement with Panama before it votes on a similar deal with Colombia, Bush administration officials said on Tuesday after a major obstacle to approval of the Panama agreement was removed.
The first major disruption of the nine-month-old Costa Rican-Panamanian free trade agreement came on July 6, when approximately 200 truck drivers from Panama, Costa Rica, and other Central American countries paralyzed cargo crossing from Paso Canoas, Panama to Cerro Punta, Costa Rica.
A concrete mixer. Crates of cauliflower. A Harley-Davidson. Chunks of cheese. President Bush used a White House lawn stacked with props yesterday to press Congress to approve free-trade pacts with Colombia, Panama, and South Korea.
“With the United States, our goal is to have a string of free-trading countries from Alaska down to the tip of Argentina and Chile, and Panama is obviously an important link in that chain,” US ambassador to Panama said.