The Panama-Israel Free Trade Agreement: A Bridge of Opportunities
The Free Trade Agreement (FTA) between the Republic of Panama and the State of Israel, in effect since January 1, 2020, represents a historic milestone as it is the first agreement of its kind that Panama has signed with a Middle Eastern nation. This treaty is not only a tariff agreement, but also a strategic alliance that unites Panama's logistics platform with Israel's cutting-edge technology.
What benefits does this Treaty offer?
The FTA has been designed so that both economies complement each other, offering competitive advantages in various areas:
Preferential Access for Panamanian Products: Key exports such as coffee, palm oil, beef, rum and a wide variety of tropical fruits (pineapple, papaya, melon) have tariff-free access or significant reductions.
Fishing Sector: Products such as tuna, sole and other seafood enjoy immediate benefits for entering the Israeli market.
High Technology Exchange: Facilitates the import of advanced machinery, medical devices and cybersecurity software, essential for the modernization of the national industry.
Logistics and Services Hub: Israel uses Panama as its distribution center for Latin America, which encourages foreign investment and job creation in our free trade zones.
Optimize your exports with INTELCOM
To enable members of our Chamber to take full advantage of the benefits of this agreement, the Ministry of Commerce and Industries (MICI) provides the INTELCOM platform (Commercial Intelligence Office).
How to use Intelcom for the FTA with Israel?
Intelcom is the essential technical tool for turning treaty clauses into real business opportunities. Through the portal https://intelcom.gob.pa/ , you can:
Check Tariffs: Identify the tariff classification of your product and verify the exact tax you must pay (or the benefit of exemption) when exporting to Israel.
Market Analysis: Access up-to-date reports on the demand for Panamanian products in the Israeli market and get to know your competition.
Rules of Origin: Get detailed information on the requirements your product must meet to be certified as "Panamanian" and benefit from the FTA preferences.
Training and Cooperation: Learn about the knowledge transfer programs in areas such as precision agriculture, water management and biotechnology that stem from the agreement.