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Panama prepares trade retaliation against 20 countries

IANS  |  Panama City 

Panama's foreign ministry on Friday published a list of 20 countries that discriminate against Panamanian imports as a first step toward establishing measures.

Panamanian said that the publication of the list was a "very novel step in our country's foreign policy."

"We have the responsibility to defend the interests of on the world stage. When we passed the in 2016 ... we had anticipated this step but we evidently had to exhaust prior efforts," quoted the the as saying.

The list includes Brazil, Chile, Colombia, Ecuador, El Salvador, Peru, Uruguay, Venezuela, Croatia, Slovenia, Estonia, France, Greece, Lithuania, Poland, Portugal, Cameroon, Georgia, and

In September 2016, the Panamanian congress passed a that reinforces the migratory, fiscal and tariff measures that the government can use to retaliate against other countries.

included on a list of tax havens in April 2016, after the "Papers" scandal broke out showing how rich individuals and corporations use offshore schemes to avoid taxes, while has applied tariffs on certain re-exports from the Panamanian Colon Free Trade Zone for more than five years, despite a ruling against it.

In December 2016, Panama was also included on a blacklist of tax havens, although one month later the Central American nation and seven other countries were taken off and put on an under observation grey list.

--IANS

qd/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, March 10 2018. 05:58 IST
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