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Panama


Beef


Exports more than tripled from $5.2 million in 2011 to $15.9 million in 2015 (following FTA implementation in 2012).

The FTA means:

  • Duty-free access for high quality beef (Choice & Prime) and duties of 30 percent are phased to zero by 2026, over a 15-year period, for all other muscle cuts.
  • Beef variety meat: duties of 15 percent fall to zero immediately for some items, others phased to zero over five years (by 2016).
  • Proposed Beef Tariff Schedule
  • U.S. Beef Exports to Panama PDF



Pork


U.S. pork and variety meat exports to Panama more than doubled due to the FTA, surpassing $31 million in 2015, up from $13.4 million in 2011.

The FTA means:

  • Duties of 60 percent to 70 percent on most cuts eliminated through duty-free TRQ, starting at 1,600 metric tons.
  • Duties of 15 percent on bacon, cured hams and pig fat eliminated through duty-free TRQ starting at 636 metric tons.
  • Duties of 30% and 15% on prepared/preserved items eliminated through duty-free TRQ starting at 318 metric tons
    • Each TRQ volume increases annually until reaching unlimited duty-free volumes by year 15, which is 2026
  • U.S. Pork Exports to Panama PDF

The U.S. is the largest supplier to this $48 million pork market, followed by Denmark and Canada.

The Canada-Panama FTA was implemented in April 2013, with similar terms to the U.S. agreement