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Panama Eu Free Trade Agreement

Posted by Josh On April - 11 - 2021

EFTA[17] has bilateral agreements with the following countries – including dependent territories – and blocs: the USTR reports that Panama`s intellectual property type and institutional support laws have improved through the creation of tribunals specifically for INTELLECTUAL property cases. Panama updated its patent law in 1996 and has a trademark protection law. Panama has signed the World Intellectual Property Organization (WIPO) Copyright Treaty and the Performance and Phonograph Treaty. The 1994 copyright improved protection and strengthened the ability to prosecute perpetrators. The United States continues to encourage Panama to join additional agreements on the means of protection in question, as the free trade agreement now calls for, and to remain vigilant about the obligation to combat piracy, a major concern given the large amount of goods shipped through the Canal Free Zone55. which replaces the unilateral preferential trade treaty of the United States, which was extended under the Caribbean Basin Economic Recovery Act (CBERA). , the Caribbean Basin Trade Partnership Act (CBTPA) and the Generalized System of Preferences (APS). Approximately 88% of U.S. commercial and industrial exports will be duty-free after implementation, with the remaining tariffs maturing over a 10-year period.

More than 50% of U.S. agricultural exports to Panama will also benefit from an immediate duty-free regime, with tariffs and tariff quotas (trQs) for certain agricultural products expiring until the 17th year of the agreement (year 20 for rice). The free trade agreement also concludes agreements on telecommunications, trade in services, government procurement, investment and intellectual property rights. The environmental assessment also indicates that Panama`s service-oriented economy and the low volume of trade with the United States are unlikely to be significantly affected by the free trade agreement and will therefore make little impact on production and trade. Nevertheless, the free trade agreement can have both positive and negative effects. The negative effects of pollution, environmental degradation and wildlife risks are mainly due to increased agricultural trade and increased agricultural production, which could be countered by enhanced environmental monitoring and policy. The positive effect of the free trade agreement could include improvements in environmental standards, which can be encouraged by the provisions of the agreement and by the consultation and cooperation agreements attached to the FTA`s transport regulator.70 Panama`s Environmental Regulatory Agency points out that Panama is increasingly using environmental impact assessments , but acknowledges that it has enforcement capacity problems that require time to address them, which could be taken into account in the free trade agreement. As soon as the agreement enters into force, EFTA states lift all tariffs on imports of industrial products, including fish and other seafood originating in Central American countries. Participating Central American states will phase out all tariffs on industrial products, including fish and other seafood, originating in an EFTA state (Annex IV and V).

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