Panama: Handel
From Handelswijzer Midden-Amerika
Features
The retail trade sector accounts for 3.9 per cent of the GDP. The sector's GDP grew at an average rate of 4.9 per cent during the period 2002-2006.
Article 293 of Panama's Constitution provides that only Panamanian citizens, including foreigners naturalized as Panamanian citizens three years after they have received their definitive permit, may engage in retail trade. Law No. 25 of 26 August 1994 defines retail trade as the activity involving the direct sale of goods to the consumer or acting as the agent of trading companies. Foreigners not authorized to engage in retail trade may, however, possess a share of the capital of companies that sell the products they manufacture directly to consumers. Farmers or persons manufacturing handicrafts and selling their own products constitute an exception to this rule.
The authorities have pointed out that Panama negotiated increased liberalization of retail trade in the free-trade agreement negotiated with the United States of America, but by mid-2007 it had still not been ratified. As a result, a new draft law is being prepared with the objective of incorporating the provisions negotiated bilaterally with the United States through an even more limited definition of the types of retail trade to which restrictions on foreign presence will continue to apply.
Foreigners may be directly involved or participate in companies engaged in wholesale trade.
Panama did not adopt any specific commitments on retail trade under the GATS.
Bron: Organization of American State's Foreign Trade Information System (SICE)
