Panamanian and Colombian Foreign Ministers Meet in Bogota to Strengthen Trade Relations
16 agosto 2019

PANAMA

On August 15, Panamanian Chancellor Alejandro Ferrer met with Colombian Chancellor Carlos Holmes Trujillo García in Bogota to comprehensively discuss their bilateral agenda, covering political, fiscal, economic, security, commercial, energy, customs and border issues. Panama is keen to re-open discussions on the commercial relationship between both parties, and expressed discontent with the application of a Colombian decree increasing customs duties on imported products, which would enter into force in November. 

During the meeting, the delegations discussed investment issues, a customs cooperation agreement and alternatives to improve access to new products. “Panama is a strategic partner for Colombia. We want to increase trade flows to that destination and that is why we are working to strengthen ties in that area,” said Laura Valdivieso, Colombia’s deputy minister of foreign trade. The meeting between the two countries took place in a context where the Association of Users of the Colon Free Zone had raised a warning about the effect of Colombia’s tariff measures on imports from the Free Zone. 

Panamanian representatives expressed their disagreement with the enactment of Colombian decree 1419 of 2019 which increases customs duties levied on some imports by between 10% and 37%, due to enter into force on November 6.  “We will make the necessary diplomatic efforts to restore relations to their historic level,” said Foreign Minister Ferrer, while Colombian Trade and Industry Minister Ramón Martínez affirmed that “the decree establishes that it will not apply to countries with which trade agreements are maintained, and Panama has a partial trade agreement with Colombia.” 

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