Moderators Moderator_02 Posted July 11, 2020 Moderators Share Posted July 11, 2020 Quote Panama - South Korea FTA Confirmed The Panamanian Assembly approved in third debate the bill 305, which ratifies the Free Trade Agreement between the Asian country and the Central American region. Thursday, July 9, 2020 Once President Cortizo Cohen approves this law and it is promulgated in the Official Journal, it is expected that the corresponding diplomatic notes will be exchanged as soon as possible so that the FTA can come into effect, informed the Panamanian government. Check out the "System for monitoring markets and economic situation in Central American countries" by CentralAmericaData. From the MICI press release:July 9th, 2020. The Plenary of the National Assembly of Deputies (NA) approved this Wednesday in the third debate the Free Trade Agreement (FTA) between the Republic of Korea and the Republics of Central America, which seeks to promote investment, trade, cooperation and technology transfer with the Asian country, which today is one of Panama's main trading partners in Asia. "The approval of Bill No. 305 of the FTA with South Korea is an important step in our trade strategy that is focused, among other aspects, on attracting foreign investment, which is very important for economic recovery, as well as boosting exports," said the Minister of Trade and Industry (MICI), Ramón Martínez, who presented the document to the AN on behalf of the Cabinet Council last April. Minister Martinez confirmed that the Treaty, which has 24 chapters covering areas such as services, investment, intellectual property and customs administration, achieved preferential access for more than 90% of items that make up the Panamanian exportable supply, and ensured the shielding with the total exclusion of all sensitive products, both agricultural and industrial. Once the President of the Republic, Laurentino Cortizo Cohen sanctions this law and it is promulgated in the Official Journal, the exchange of the corresponding diplomatic notes is expected to take place as soon as possible so that the FTA can enter into force. After the above, the treaty will enter into force two months after the exchange of notes, said the holder of the MICI. https://www.centralamericadata.com/en/article/main/Panama__South_Korea_FTA_Confirmed Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted July 14, 2020 Author Moderators Share Posted July 14, 2020 Quote Proyecto de TLC con Corea pasa a manos de Cortizo; diputados lo avalan en tercer debate El proyecto 305 no recibió modificaciones por tratarse de un acuerdo que fue pactado entre ambas naciones. Aminta Bustamante 09 jul 2020 - 01:20 PM Asamblea Nacional. Los diputados aprobaron este jueves 9 de julio con 46 votos el proyecto de ley 305, que da luz verde al Tratado de Libre Comercio entre la República de Corea y las repúblicas de Centroamérica. El tratado, que consta de 24 capítulos, está relacionado a bienes, servicios e inversión, propiedad intelectual, administración aduanera y administración del acuerdo. También incluye un capítulo de cooperación. El proyecto 305 no recibió modificaciones por tratarse de un acuerdo que fue pactado entre ambas naciones. Luego de su aprobación, la Asamblea remitirá el documento a la Presidencia de la República, para que sea sancionado por Laurentino Nito Cortizo. El diputado perredista Fernando Arce y presidente de la Comisión de Relaciones Exteriores, quien dio en primera instancia el visto bueno al documento, planteó que el tratado fortalecerá nuestras relaciones con Corea del Sur, ya que impulsará las exportaciones. “Este tratado se negoció de manera estratégica. Las exportaciones de Corea del Sur no generará ningún riesgo a nuestro país”, dijo Arce. Destacó, por ejemplo, que se logró acceso inmediato para el café, aceite de palma (tanto el crudo como el refinado), pasta de tomate y ron. Pese a que El Salvador, Honduras, Nicaragua, Costa Rica y Panamá firmaron el 21 de febrero de 2018 el tratado de libre comercio con Corea, en Seúl, Panamá aún no lo ha ratificado. Moderator comment: Below is an unedited automated translation of the above news article. Quote FTA project with Korea passes to Cortizo; deputies endorse it in third debate Project 305 received no modifications because it was an agreement that was agreed between both nations. Aminta Bustamante Jul 09, 2020 - 01:20 PM <<XWCYHCTADZBSXOMQAESKJDYYQ4.jpg>> National Assembly. The deputies approved this Thursday, July 9, with 46 votes, bill 305, which gives the green light to the Free Trade Agreement between the Republic of Korea and the Central American republics. The treaty, which consists of 24 chapters, is related to goods, services and investment, intellectual property, customs administration and administration of the agreement. It also includes a cooperation chapter. Project 305 received no modifications because it was an agreement that was agreed between both nations. After its approval, the Assembly will send the document to the Presidency of the Republic, to be sanctioned by Laurentino Nito Cortizo. The PRD deputy Fernando Arce and president of the Foreign Relations Commission, who gave the document its approval in the first instance, stated that the treaty will strengthen our relations with South Korea, since it will boost exports. “This treaty was strategically negotiated. South Korea's exports will not create any risk to our country, ”said Arce. He highlighted, for example, that immediate access was achieved for coffee, palm oil (both crude and refined), tomato paste and rum. Despite the fact that El Salvador, Honduras, Nicaragua, Costa Rica and Panama signed the free trade agreement with Korea on February 21, 2018, in Seoul, Panama has not yet ratified it. https://www.prensa.com/politica/proyecto-de-tlc-con-corea-pasa-a-manos-de-cortizo-diputados-lo-avalan-en-tercer-debate/ Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted March 1, 2021 Author Moderators Share Posted March 1, 2021 Quote FTA with South Korea Soon to Take Effect As of March 1st, the Free Trade Agreement signed between the Republic of South Korea and Central American countries will become effective. Friday, February 26, 2021 After several years of negotiations, the trade agreement between the countries of the region and the Asian nation will finally come into force next Monday.Ramon Martinez, Minister of Commerce and Industries of Panama, said that "... with this agreement, interesting accesses were achieved with respect to our exportable offer, ensuring the total exclusion of all sensitive products for the country."The FTA between the Republic of Korea and the Central American Republics is in force for Costa Rica, Nicaragua, El Salvador and Honduras, according to a statement issued by the Ministry of Commerce and Industries (MICI).The official document adds that "... the FTA provides instant access for Panamanian agricultural and agro-processed products such as coffee, palm oil, tomato paste, rum and seafood products. At the same time, it contemplates market access under preferential conditions for some products of our exportable supply such as frozen, fresh or refrigerated boneless beef, frozen pork (hams and shoulders), cassava in all its forms, tropical fruits (pineapple, banana, watermelon, melon, papaya), value-added products for chicken and beef, raw and refined sugar, fishmeal and fish powder, among others." https://www.centralamericadata.com/en/article/main/FTA_with_South_Korea_Soon_to_Take_Effect Quote Link to comment Share on other sites More sharing options...
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