Colombia appeals WTO decision favoring Panama

A WORLD Trade Organization (WTO) decision  favoring  Panama in the dispute  over the duty placed  by Colombia on textiles, apparel and footwear is  being appealed by the South American country.

In the WTO ruling, released Nov. 27, it decided that the restrictions imposed by Colombia in 2012 are “incompatible” with the general agreement on tariffs and trade (GATT) that went into effect in 1994.

Colombia had alleged that the tariffs were a measure against money laundering, however, the WTO panel supported the claim of Panama that the tariffs exceeded the limits that could be placed on these products.