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Colombia lowers duty on Panama Colon Trade Zone

Wednesday, March 19, 2014

Colombia's decision to lower a customs duty on Panama's Colón Free Trade Zone is not a measure against the Central America country, but is meant to be imposed on Asian shoes and textiles, Colombian ambassador in Panama Ángela Benedetti said.

However, the duty affected Panama since the Colón Free Trade Zone re-exports 80 percent of Asian goods, she added.

The duty was lowered from $5 to $3, however, Severo Sousa, a former Colón zone leader, believes the duty is still above the limit allowed by the World Trade Organization and ratified his support of Panama's Trade Ministry of lodging a complaint at the international organization.

Full story (in Spanish)