The Ministry of Commerce of Colombia announced that companies from that country have invested in Panama 7.946 million.

The figure was released by the Minister of Commerce, Industry and Tourism, Maria Claudia Lacouture, was quoted by the newspaper El Tiempo.

The official rejected the tariff increase decreed recently by Panama coal, flowers, cement and clothing.

“What we see is that Colombia has put measures for illegal trade, and the new decree Panama are putting measures affecting the legal trade. We insist on establishing measures that go against the illegal trade, and Panama what you are doing in today not helping us in this process, but affects the legal trade and does not exercise any interference on the illicit “he said.

Between 1994 and 2014, according to data from the agency ProColombia, Panamanian businessmen invested in the South American country 16000 48 billion in various sectors of the economy.

In early August, Colombia shaped the elimination of tariff of 10% on textiles and footwear from the Colon Free Zone (CFZ), the conclusion of a negotiation or arbitration.

The World Trade Organization (WTO) has failed twice -in November 2015 and then in June 2016 that the tariff exceeds the permitted ceilings. Colombia argues that the tax is necessary to combat smuggling and money laundering.

Last week, Minister of Economy and Finance (MEF), Dulcidio De La Guardia, presented to the National Assembly the project to expand the scope of Law 58 of 2012, which provides for retaliatory measures you can take Panama against States applying discriminatory measures.

Among the measures proposed a new tax of up to 40% for companies from countries that discriminate against Panama is included.

Source: http://www.prensa.com/