Fish and Fish Products Sector

An Expert's View about Agriculture and Animal Husbandry in Panama

Posted on: 26 May 2012

The fish and fish products sector accounted for $6 million in U.S. exports to Panama over 2008-10 (average).

The U.S.-Panama Trade Promotion Agreement Opportunities for the U.S. Fish and Fish Products Sector The U.S.-Panama Trade Promotion Agreement would provide signicant commercial opportunities for U.S. exporters: • The sh and sh products sector accounted for $6 million in U.S. exports to Panama over 2008-10 (average). • Estimated duties paid on exports of U.S. sh and sh products to Panama from 2008 to 2010 were over $2.1 million. • Over 84 percent of U.S. exports of sh and sh products to Panama would receive duty-free treatment immediately upon implementation of the U.S.-Panama Trade Promotion Agreement. Fish and Fish Products Sector Overview • The sh and sh products sector accounted for $6 million in U.S. U.S. Fish and Fish Products Exports to 1 exports to Panama over 2008-10 (average). Panama Averaged $6 Million • Top U.S. sh and sh products exports to Panama include cod, processed sardines, tuna, fresh sardines and processed salmon. $8 • The U.S. commercial shing sector harvested over $4.4 billion 2 worth of sh and shellsh in 2008. $7 • The U.S. commercial shing, seafood processing, retailing, and 3 wholesaling industries employed approximately 370,000 in 2008. $6 $5 $4 Improved Market Access for U.S. Fish Exporters to 2008 2009 2010 Panama • Panama’s sh taris average 12.5 percent, ranging from 0 to 15 percent. 4 • Over 84 percent of U.S. sh and sh products exports to Panama would receive duty-free treatment immediately upon More than ? ? ? o? U.S. Fish and Fish implementation of this Agreement. Products Exports to Panama ? ould ? e • Taris on the remaining 16 percent would be eliminated in 10 years. Dut? ? Free ? mmediatel? 15.54% Immediate Key States Exporting to Panama • Top U.S. state exporting sh and sh products to Panama include: 10 Years Florida, California, Rhode Island, Texas and Virginia. 84.39% 1 Global Trade Atlas. Calculations by the U.S. Department of Commerce based on import data as reported by Panama. The denition for sh and sh products used in this report, unless otherwise cited, is based on HS chapter 3 and selected products with chapters 5, 16, and 23. 2 U.S. Department of Commerce, National Oceanic and Atmospheric Administration, Fisheries Economics of the United States 2008. 3 U.S. Department of Commerce, National Oceanic and Atmospheric Administration, Fisheries Economics of the United States 2008. 4 Data based on three-year average for 2008 to 2010. in Millions USD Foreign Competition in Panama’s Market EU Fish Exporters Could • Since the conclusion of negotiations with the United States, Immediately Get a 2.5 Percentage Panama has concluded separate negotiations with Canada and the EU. The EU-Central America Association Agreement which Point Tari Advantage in Panama includes Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua 14% and Panama successfully completed negotiations in May 2010. 12% This agreement will provide the EU with increased regional 10% opportunities in Central America through lower taris, increased 8% government procurement market access and elimination of 6% certain non-tari barriers. Panama also concluded free trade 4% agreement negotiations with Canada in May 2010. As part of 2% this agreement, Panama will eliminate taris immediately on 90 0% percent of Canada’s exports. • EU sh and sh products exporters will immediately enjoy an EU MFN -If U.S.-Panama Agreement is not enacted average tari of 9.9 percent upon implementation of the EU- Central America Association Agreement, while U.S. exporters will face an average MFN tari of 12.5 percent until implementation of the U.S.-Panama Trade Promotion Agreement. Other Key Commitments by Panama for the Fish and Fish Products Sector Customs Administration: The U.S.-Panama TPA requires measures designed to increase transparency and eciency in administering customs procedures. The Agreement will allow exporters to obtain advance rulings on tari classication, origin of goods, and other customs matters. The Agreement addresses industry’s demand for express delivery services by requiring that, within one year after the date the Agreement takes eect, Panama must provide a separate, expedited customs procedure for express shipments. Rules of Origin: The U.S. Panama TPA rules of origin allow only U.S. and Panamanian originating goods to receive preferential tari treatment under the Agreement. The trade agreement rules of origin provide clear requirements for a good to be considered originating, including that a good must be wholly obtained or produced entirely in the territory of the United States or Panama, as well as requirements for materials that are used in the production of the good. Average Tari May 2011 The International Trade Administration - Your Global Business Partner The International Trade Administration (ITA) – a division of the U.S. Department of Commerce – strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through the rigorous enforcement of our trade laws and agreements. ITA also utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. For more information on exporting to Panama, please contact: • The ITA office of the U.S. Embassy in Panama at enrique.tellez@trade.gov, or 011-507-317-5000, or by visiting our website http://www.export.gov/panama. • You can also locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://www.export.gov/eac. For more information on the U.S.-Panama Trade Promotion Agreement, please visit www.export.gov/fta/panama and www.trade.gov/fta/panama. For more information on industry-specific issues, please visit http://trade.gov/mas/index.asp.
Posted: 26 May 2012

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