The Government of Panama believes that international agreement to liberalize trade in services, known as TISA and traded these days in the Swiss city of Geneva, will help you become a “center for regional investment,” said the Ministry Trade and Industry.
“The outcome of these negotiations will bring greater legal certainty for our most dynamic sector of our economy and improve the investment climate for this sector,” said Minister of Trade and Industry, Meliton Arrocha, who is in the country participating in Swiss treaty negotiations.
The services sector in Panama represents 77% of its Gross Domestic Product (GDP), according to official data.
The Agreement on Trade in Services (TISA, for its acronym in English) will give the Central American country “more legal certainty in cross-border transactions in services,” the ministry said in a statement issued Monday in Panama.
Fifty countries gather in Geneva from today until July 10 to advance the negotiations of this agreement, which began to take shape in March 2013 and that little information has leaked.
In fact, it has been criticized by the “secrecy” that surrounds and start having presence in the media following a leak of Wikileaks in 2014.
This is an initiative open to all members of the World Trade Organization (WTO), which covers the sectors related services, including the information and communications technology (ICT), logistics and transport services financial or business.
Ernesto Chong de León, Ernesto Emilio Chong Coronado
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