Panama’s Exports endangered by neglect
Thursday, December 11, 2008 10:41No Comments
Panama’s Pablo Garrido neglected to file a renewal application for Panama’s Generalized System of Preference with the European Union, which allows Panama to enjoy preferential export tariffs to the EU. The application was supposed to be filed by 31st of October, but due to an oversight it wasn’t.
Panama’s export value to the European Union markets exceeds $200 million per annum, and it is the second most important market for Panama. The trade ministry has confirmed the oversight and says that a diplomatic process must be undertaken to reinstate the Generalized System of Preference, via the bureaucratic channels.
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