Free Trade Agreement (FTA) Panama Taiwan

Course summary Free Trade Agreement (FTA) Panama Taiwan:

The Panama - Taiwan (ROC) Free Trade Agreement entered into force on 1 January 2004.

Although the FTA is expected to boost the bilateral trade between Taiwan and Panama, trade between the two sides was relatively small in the past, accounting for only 0.06% of Taiwan's total trade, according to statistics provided by the BOFT.

Taiwan’s exporters can enjoy exemption of custom duties on 4,181 items of commodities exported to Panama, and the Panama authority will give preferential treatment to Taiwan’s marine transport firms in using the seaport facilities. The FTA will help domestic marine transport companies develop American and global shipping markets by way of the Panama Canal.

Taiwan has exempted custom duties on 6,187 products imported from Panama. It is expected that 97% of Panama products will be allowed to enter Taiwan free of duty 10 years after the FTA takes effects; vice versa, Taiwan will see 95% of Panama-bound products, or 4,181 items, enjoy exemption of custom duty.

The Panamanian imports of products from Taiwan in 2010 totaled $ 43 million (Except trade conducted by the Colon Free Zone to other countries). This focused on the purchase of automotive products such as tires, vehicle accessories and body. Meanwhile the national economy of Panama also rose $ 36 million compared to the previous year.

Free Trade Agreement (FTA) Panama Taiwan:

The regional value content of a good shall be calculated according to the following formula:

RVC = ((TV - VNM) x 100) / TV
where:

- RVC: is the regional value content of the good, expressed as a percentage;

- TV: is the transaction value of the good adjusted to a F.O.B. basis, unless as stated in Paragraph 2. In the event that there does not exist or it is not possible to determine the value in accordance with the principles and provisions of Article 1 of the WTO Customs Valuation Agreement, then this shall be calculated according to the principles and provisions of Articles 2 through 7 of that Agreement; and

- VNM: is the transaction value of the non-originating materials adjusted to a C.I.F. basis, unless stated in the Paragraph 5. In the event that there does not exist or it is not possible to determine the value according to the principles and provisions of Article 1 of the WTO Customs Valuation Agreement, this shall be calculated in accordance with the principles and provisions of Articles 2 through 7 of that Agreement.

The Content of the ROC-Panama Agreement
- Preamble
- Chapter 1. Initial Provision
- Chapter 2. General Definition
- Chapter 3. National Treatment and Market Access for Goods
- Chapter 4. Rules of Origin
- Chapter 5. Customs Procedures
- Chapter 6. Safeguard measures
- Chapter 7. Unfair Trade Practices
- Chapter 8. Sanitary and Phytosanitary Measures
- Chapter 9.Measures on Standards, Metrology and Authorization Procedures
- Chapter 10. Investment Services and Related Matters
- Chapter 11. Cross-border Trade in Service
- Chapter 12. Financial Service
- Chapter 13. Telecommunications
- Chapter 14. Temporary Entry for Business Persons
- Chapter 15. Competition Policy
- Chapter 16. Intellectual Property
- Chapter 17. Transparency
- Chapter 18. Administration of the Agreement
- Chapter 19. Dispute Settlement
- Chapter 20. Exceptions
- Chapter 21. Final Provisions

Free Trade Agreements (FTA) of Panama - Taiwan Free Trade Agreements (FTAs)

Free Trade Agreement (FTA) Panama Taiwan (Español):

 Educational level: Continuing education / Executive education programs.