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Recent News

 

February 4, 2014:
USTR Director for Environment and Natural Resources Sarah Stewart Participates in Inaugural Environment Meetings with the Government of Panama

 

October 23, 2012:

Blog Post: U.S. and Panama Set Date for Entry-Into-Force of the U.S.-Panama Trade Promotion Agreement

 

 

October 22, 2012:
United States, Panama Set Date for Entry into Force of United States-Panama Trade Promotion Agreement 

 

October 21, 2011:
Statement By U.S. Trade Representative Ron Kirk On Presidential Signature Of Trade Legislation

 

October 13, 2011
Statements Regarding the Congressional Approval of the Korea, Colombia, and Panama Trade Agreements

 

From Enactment To Entry Into Force: Next Steps On The Trade Agreements

 

October 12, 2011:
Statement By U.S. Trade Representative Ron Kirk On Congressional Passage Of Trade Agreements, Trade Adjustment Assistance And Key Preference Programs

 

October 3, 2011
U.S Trade Representative Ron Kirk Calls for Swift Passage of Trade Agreements

 

  • The United States – Panama Trade Promotion Agreement: Implementing Legislation and Supporting Documentation

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  • Statements Regarding the President’s Submission to Congress of the South Korea, Colombia, and Panama Trade Agreements

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  • The Pending Trade Agreements: More American Jobs, Faster Economic Recovery Through Exports

  • September 2011

    United States - Panama Trade Promotion Agreement: Final Environmental Review


    August 3,2011
    Kirk Comment on Pending Trade Agreements, Trade Adjustment Assistance

     

     

    July 7, 2011
    USTR Kirk Comments Following Trade Markups In Senate Finance, House Ways and Means Committees

     

    July 5, 2011
    Statement from USTR Kirk Regarding Announcement of House Ways & Means Committee Markup

     

    June 30, 2011
    Ambassador Kirk Statement Regarding the Planned Informal Markup in The Senate Finance Committee

     

    June 29, 2011:
    INFO: Links on Pending Trade Agreements, TAA, Preference Programs

     

    June 28, 2011:
    U.S. Trade Representative Ron Kirk Welcomes Next Steps on Pending Trade Pacts, Trade Adjustment Assistance

     

    May 11, 2011
    Testimony of Deputy United States Trade Representative Miriam Sapiro Before the Senate Finance Committee

     

    April 18, 2011
    Ambassador Ron Kirk Announces Next Step for U.S.-Panama Trade Promotion Agreement

    Important U.S.-Panama Links


    Port of MiamiBenefits for Your Industry: USTR Fact Sheets

    Panama is one of the fastest growing economies in Latin America, expanding 6.2 percent in 2010, with similar annual growth forecast through 2015. This comprehensive Agreement will eliminate tariffs and other barriers to U.S. exports, promote economic growth, and expand trade between our two countries.  Visit USTR's Fact Sheet page to find out how the agreement will specifically benefit your sector.

     

    Tractor in a fieldBenefits for Your Farm: Agriculture Fact Sheets

    Panama is an important market for America’s farmers and ranchers. In 2010, the United States exported over $450 million of agricultural products to Panama, more than double U.S. agricultural exports to Panama in 2005. Top U.S. exports were corn, soybean cake and meal, wheat, rice, and horticultural products. Visit the Department of Agriculture's website to find out how the agreement will benefit your sector.

     

    Manufacturing PlantBenefits for Your Sector: Industry Fact Sheets: Benefits for Your Sector

    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. U.S. products that will gain immediate duty-free access include information technology equipment, agricultural and construction equipment, aircraft and parts, medical and scientific equipment, environmental products, pharmaceuticals, fertilizers, and agro-chemicals. Visit the Department of Commerce's website to find out how the agreement will benefit your sector.  

     

    AgreementFull Text of the Agreement

    Read the full text of the U.S.-Panama trade agreement, which is an integral part of the President’s efforts to increase opportunities for U.S. businesses, farmers and workers through improved access for their products and services in foreign markets, and supports the President’s National Export Initiative goal of doubling of U.S. exports in 5 years.

    Support for the U.S.-Panama Trade Agreement

    Statements of support for the U.S.-Panama Trade Agreement from various elected officials, the business community, and advocacy groups can be found below.

     

    Visit Your Government Trade Partners

    Visit USTR's partners across the federal government to learn more about their part in the trade agreement.

    Department of Agriculture Seal     Department of Agriculture

    Commerce Seal     Commerce Department

    Labor Department Seal     Department of Labor

    OMB Seal     Office of Management and Budget

    Export Import Bank Seal      Export-Import Bank

    SBA Seal      Small Business Administration

    OPIC Seal      Overseas Private Investment Corp.

    USTDA Seal      Trade and Development Agency

    State Department Seal      State Department

    Investment in the U.S.-Panama Trade Promotion Agreement

    Trade Agreement Home  •  Key Facts  •  Your Community

    InvestmentForeign investment delivers significant economic benefits to U.S. companies and American workers. When U.S. companies can more easily expand to and invest in foreign markets, that access can boost employment, increase wages, promote exports, and enhance innovation here at home by increasing demand for their products and services overseas.

    The U.S.-Panama Trade Promotion Agreement (the “Agreement”) increases investment opportunities for U.S. companies in Panama by providing access to the market, strong investor protections, and a way for investors to enforce their rights. The Agreement does not provide Panamanian investors in the United States any more investment protections than U.S. law gives American investors here, and it ensures that the U.S. government and our state and local governments can continue to regulate in the public interest, including protecting public health, public safety, and the environment.

    The Agreement’s investment rules establish a stable framework for U.S. companies investing in Panama, level the playing field, and require U.S. investors to be treated in accordance with the rule of law. The investment rules preserve a level playing field for U.S. investors here at home, and ensure government’s ability to look out for the public interest where Panamanian investment is concerned.

    KEY ELEMENTS:

    • The Agreement’s investment rules are largely drawn from U.S. law, and increase protections for U.S. investors in Panama to the standards that they – and Panamanian investors – already enjoy in the United States. These include requirements that the Panamanian government will treat U.S. investors just as well as domestic investors or any other foreign investor. The Panamanian government cannot illegally seize U.S. investors’ property or illegally destroy the value of their investments without paying full compensation, and the Panamanian government will allow U.S. investors to move their money into or out of Panama. U.S. investors cannot be forced to transfer technology to Panama as a condition for investing there, nor be required to hire local managers.

    • The Agreement provides U.S. investors with locked-in and, in some cases, improved market access in key sectors in Panama. These include delivery services, retail services, and telecommunications – where, for instance, American companies will be allowed to own 100 percent of their own subsidiary in Panama.

    • If a U.S. investor believes that the Panamanian government has breached key investment rules of the Agreement – for instance, a prohibition against discriminatory treatment of a U.S. investor – then that investor is guaranteed recourse to neutral, transparent, and binding international arbitration.

    • In the Trade Act of 2002, Congress mandated that trade agreements should not give foreign investors in the United States any greater substantive rights than American investors already receive – and all of the protections offered to Panamanian investors in this Agreement reflect U.S. law protections that are already available to all investors, both foreign and domestic, in the United States.

    • Nothing in the Agreement’s investment rules prevents the federal government or a state or local government from adopting or maintaining laws or regulations to protect public health, public safety, the environment, or other public interests.

    • While Panamanian investors will have recourse if they believe the United States has violated their rights, the rules of the Agreement contain safeguards to deter and penalize frivolous suits. They require all arbitration proceedings be open to the public and allow the public to weigh in with the arbitration panel. Both countries can review how the Agreement should be applied if there are concerns about how a panel may rule.