![]() Sub-sectors offering the best market opportunities are servicing equipment, tubes and tires, and engine parts. ![]() But, the TPA does give an advantage to U.S.-made automotive parts, which enter the market duty-free there are no import restrictions on these products. The U.S.–Panama Trade Promotion Agreement (TPA) does not, therefore, give a competitive advantage to U.S.-made cars. They are, however, subject to a progressive sales tax based on the value of the car. It is important to note that cars are not subject to import duties, regardless of national content of origin. Demand will also remain strong for U.S.-made car parts and accessories for Japanese models. market position will improve as sales of U.S. Main competitors include Japan, Korea, and Taiwan. participation in the automotive parts and service market is significant, with a market share of more than 40%. The automotive inventory in Panama is estimated at over 1,000,000 units. Approximately 60,000 new cars were sold in 2014, resulting in increased demand for automotive parts and service equipment. The market for new automobiles showed substantial growth in 2014, after slower growth in the last previous years. Panama - Temporary Entry of Materials and Personal Belongings Temporary Entry of Materials or Personal Belongings Panama - Local Time, Business Hours, & Holidays Panama - Right to Private Ownership and Establishment Limits on Foreign Control and Right to Private Ownership and Establishmen Panama - Contact for More Information on the Investment Climate Statement Panama - Foreign Direct Investment and Foreign Portfolio Investment StatisticsĬontact for More Information on the Investment Climate Statement Panama - Foreign Trade Zones/Free Ports/Trade Facilitationįoreign Direct Investment and Foreign Portfolio Investment Statistics Panama - OPIC and Other Investment Insurance Programsįoreign Trade Zones/Free Ports/Trade Facilitation OPIC and Other Investment Insurance Programs Panama - Competition from State-Owned Enterprises Panama - Efficient Capital Markets and Portfolio Investment Panama - Transparency of the Regulatory SystemĮfficient Capital Markets and Portfolio Investment Panama - Performance Requirements and Investment Incentives Performance Requirements and Investment Incentives Panama - Conversion and Transfer Policies Panama - Openness to and Restriction on Foreign Investment Openness to and Restrictions upon Foreign Investment Panama - Import Requirements and Documentation Panama - Automotive Parts & Service Equipment ![]() Leading Sectors for US Exports & Investments Panama - Protecting Intellectual Property ![]() Panama - Using an Agent to Sell US Products and Services ![]()
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