WTO to referee Panama-Colombia tax fight

THE WORLD Trade Organization (WTO) will  has returned  to attempting to resolve the ongoing tariff dispute between Panama and Colombia over tariffs on shoes and textiles.

Tariffs imposed by Colombia on shoes and textiles prompted Panama to increase the duty on numerous products from Colombia, including flowers and concrete.

According to the Ministry of Commerce and Industry (MICI), the arbitrator has 90 days to issue a decision. That deadline is from June 22.

Panama and Colombia have failed to reach an agreement in the dispute. The reasons for the disagreement differ on both sides.

During meetings between the two countries, Colombia decided to extend the tariff until November  1, claiming  it was part of its fight against money laundering and smuggling.

Panama has repeatedly rejected the Colombian move and. has also won two decisions before the WTO