Trade Agreement Panama And Us
As requested under the ACCORD, the USTR conducted an environmental assessment of the potential environmental impacts, possibly attributable to the free trade agreement. He noted that Panama “faces a number of challenges in protecting its environment as it supports its economic growth and population growth.” Deforestation, soil degradation, the loss of wildlife and threats to water quality and wetlands are, among other things, serious problems for Panama. The Panama Canal also imposes strict water consumption requirements in the country. Panama responded through the public order process by establishing environmental standards and concluding bilateral and U.S. environmental cooperation agreements.69 These issues were already factors of interference prior to the Panama Free Trade Agreement negotiations. Thus, the environmental assessment states that the marginal impact of the free trade agreement on environmental standards would be small, either with respect to the projected effects on the United States or Panama. The USTR reports that Panama`s laws on spiritual auspices and institutional support have been improved by the creation of tribunals specifically related to IPR cases. Panama updated its patent law in 1996 and has a trademark protection law. Panama has signed the World Intellectual Property Organization (WIPO) Copyright Treaty and the Performance and Phonograph Treaty. The 1994 copyright improved protection and strengthened the ability to prosecute perpetrators. The United States continues to encourage Panama to join additional IPR treaties, as the free trade agreement is now calling for, and to remain vigilant in its commitment to piracy, a major concern given the large amount of goods transiting through the channel free zone.55 Congressional leadership and the Bush administration have agreed to change the language of work.
, environment, investment and intellectual property rights in this free trade agreement and three other proposed ones. based on the principles of inter-party agreement. The United States and Panama sign a free trade agreement with the Organization of American States in Washington, DC. The canal consolidated Panama as a maritime economy and its return to Panamanian control raised expectations of increased economic benefits from its ownership. The canal itself accounts for about 6% of Panama`s GDP, with the largest and fastest traffic along the U.S. East Coast trade route to Asia (particularly the United States-China). About one-third of the total that crosses the canal has its origin or your destination in the United States. However, the economic impact of the canal is much greater and supports revenues and jobs in various service sectors, including storage, ship registries and repairs, salvage operations, insurance, banking and tourism. The two major ports at both ends of the canal have been privatized and modernized, and part of the canal was expanded in 2001, and Panama undertook a difficult and costly challenge to improve the capacity of the entire canal to accommodate much larger post-Panama vessels.20 Panama held a national referendum on the $5.25 billion enlargement on October 22 , 2006. It has gone a long way and expansion is underway. The Panamanian dollar economy has been a cornerstone of its long-term economic stability. It has protected Panama from currency risks, currency asymmetries and speculative attacks in other developing countries and eliminated the monetization of deficits, thereby reinforcing fiscal constraints and price stability.