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Panama Enters the Central American Economic Integration Secretariat

Article Summary:

The Association Agreement between the European Union and Central America is official and with this opens the doors to Europe. This event also marks the formal entrance of Panama into the Central American Economic Integration SIECA, which will improve what the region can offer to the EU, as both an economic and tourist investment.

Photo Credit: Costa Rica Hoy

Original Article Text From Costa Rica Hoy via Google Translate :

Panama enters the Central American Economic Integration Secretariat
Friday in Tegucigalpa, Honduras, will be signing the Association Agreement between the European Union and Central America. But apart from the agreement that opens the doors to Europe, Panama also formally be integrated subsystem of the Central American Economic Integration SIECA.

This is considered the missing step to realize a regional customs union process, which can facilitate the trade among the 6 countries of the region, in turn strengthening controls on goods.

The process of harmonization of tariffs in Central America (ie all countries to levy the same taxes to the same goods) is advanced. Most goods are already harmonized. In the case of Panama, is committed to work to catch up with the subject in those areas that require it because the process is also advanced through trade agreements with countries of the isthmus with canaleros.

“This is a long-standing desire for Costa Rica, because the incorporation of Panama to the subsystem opens new opportunities for trade and investment, and also, Panama brings a more pragmatic view of Central American integration can bring new elements to this process, which and has 50 years, “said Foreign Trade Minister, Anabel Gonzalez.

The COMEX chief said the vision of Panama may lead to the integration process for very good directions, and that work needs to be done to reach the rest of Central America in terms of customs integration is concerned, requires that the process of integration is gradual.

The integration of Panama to the subsystem integration will improve the regional offer abroad, not only as a market, but as a tourist destination and investment.

Link to Original Article:

From Costa Rica Hoy

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