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Since there are no direct answers to this question yet we have included 3 related answers: | | | What would be an immediate benefit to the US in implementing the Free Trade Agreement with Panama?? It`s just a matter of time before President Obama drives home Panama`s free trade agreement. It will, of course, immediately increase jobs and assure uninhibited economic activity between the two nations. The biggest card in the deck of this agreement, so to speak, is the expansion of the Panama Canal. Projected at $5.25 billion, the expansion project offers a wealth of contracts for qualified bidders; the US could easily supply Panama with skilled labor and technology. Undoubtedly, this would be one of President Obama`s more solid first-term accomplishments on the international stage. | | | Panama USA trade agreement, What are the benefits to the business?? There are a few ways the trade agreement benefits the US business sector. First, it allows a level playing field for US companies to compete for business in Panama by removing tariffs. The $5 billion Canal expansion is a good example of a major project that US businesses can get in on. It also helps to protect existing US investments in Panama, which totaled $6.2 billion in 2007. It will ease tariffs and duties for US exporters to Panama (exports to Panama vastly outweigh imports from); major exports include oil and agricultural products. It will allow US companies to operate more easily within Panama, which has a huge services sector and a strong financial sector, and already many US companies are setting up shop there much more cheaply than they would at home. | | | If I have a corporation registered in Panama, can I still use it to do business in Panama?? A Panama-registered corporation can carry on legitimate business activities within Panama, or anywhere else in the world. Any business activities within Panama are taxable, but offshore activities (i.e., outside Panama) are not. A Panama corporation can have bank accounts and trading accounts within Panama as well. |
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