United States - Panama Free Trade Agreement (FTA)

Course summary United States - Panama Free Trade Agreement (FTA):

US Free Trade Agreements - Panama Free Trade Agreements (FTAs)

U.S.-Panama FTA is a comprehensive free trade agreement that can result in significant liberalization of trade in goods and services, including financial services.

Over 87 percent of U.S. exports of consumer and industrial products to Panama will become duty-free immediately, with remaining tariffs phased out over ten years.

It also includes important disciplines relating to customs administration and trade facilitation, technical barriers to trade, government procurement, investment, telecommunications, electronic commerce, intellectual property rights, and labor and environmental protection.

On April 18, 2011, a Tax Information Exchange Agreement (TIEA) went into effect between the United States and Panama.

U.S. industrial goods currently face an average tariff of 7 percent in Panama, with some tariffs as high as 81 percent. U.S. agricultural goods face an average tariff of 15 percent, with some tariffs as high as 260 percent.

The Agreement guarantees access to Panama’s $20.6 billion services market, including in priority areas such as financial, telecommunications, computer, distribution, express delivery, energy, environmental, and professional services.

Panama’s strategic location as a major shipping route also enhances the importance of the Agreement. Approximately two-thirds of the Panama Canal’s annual transits are bound to or from U.S. ports.

Example of the course United States - Panama Free Trade Agreement (FTA):

Master in International Business for US Students

 Educational level: Continuing education / Executive education programs.

Source: The Office of the United States Trade Representative (USTR)