Upon the signing of Decision No. 3 of the Free Trade Agreement between the two countries, a scheme will be established in early September to simplify the issuance of Certificates of Origin, based on current technologies.

On July 22, the Panamanian and Mexican authorities signed Decision No. 3 of the trade agreement between the two economies. The document will become effective 45 days after its signature.

From the MICI statement:

July 22nd, 2020. The Office of International Trade Negotiations (ONCI) of the Ministry of Commerce and Industry (MICI), through the National Directorate of Administration of International Trade Treaties and Trade Defense, announced this Wednesday the signing of Decision No. 3 of the Free Trade Agreement between the United Mexican States and the Republic of Panama, which will facilitate trade between the two countries.

The document signed by the holder of the MICI, Ramon Martinez, makes known to the operators of foreign trade of both nations, the mechanisms with which the corresponding authorities will validate the Certificates of Origin of goods, making us more competitive, expeditious and effective.

Given the effects of the COVID 19 pandemic on trade development, the approval of Decision No. 3 of this FTA, allows for the establishment of a simplification scheme in the issuance of Certificates of Origin, supported by current technologies.

As detailed by the ONCI Directorate, the document will come into force 45 days after its signature, and the valid Certificates of Origin issued before the date of entry into force of this Decision, may be used during the term of its validity.

Mexico is the sixth most important trading partner of Panama, a country with which it signed a Free Trade Agreement in April 2014 and which has been in force since July 2015.

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