The U.S.-Panama FTA is a free trade agreement that can result in a substantial Foreign Trade Liberalization in goods and services,
including the financial services.
87% of the U.S. exports of consumer and industrial products to Panama will become duty-free instantly (with remaining tariffs eliminated over ten years)
In 2011, a Tax Information Exchange Agreement went into
effect between the U.S. and Panama
The United States industrial export products face an average tariff of 7% in Panama (some tariffs as high as 81%)
The U.S. agricultural export products face an average tariff of 15% (some tariffs as high as 260%)
The U.S.-Panama Free Trade Agreement (FTA) guarantees the access to the
services market of Panama (20.6 billion dollars): financial sector, telecommunications, computer, international distribution, express delivery, energy, environmental, and professional services
The strategic location of Panama as a major
shipping route also enhances the importance of the U.S.-Panama Agreement
66% of the annual transits of the Panama Canal are bound to or from the U.S. sea ports
The United States-Panama Free Trade Agreement includes important disciplines relating to: