ISDS Case Map
Panama
The trade deal would leave tax shelters for AIG and narcotraffickers intact while removing existing US tools to combat tax evasion and other financial crimes
A Democratic senator from Ohio is moving to further tie up pending US free-trade agreements with Panama, Colombia and South Korea, setting up a potential clash between President Barack Obama and some members of his party.
Anger is brimming over in diverse corridors over the Bush hangover agreement with Panama, and the new rights it would give to AIG-linked bodies in Panama to sue US taxpayers.
Under the Panama FTA, AIG-Panama would be able to sue the US taxpayer for cash damages by claiming common regulatory actions were "tantamount" to an ("indirect") "expropriation."
Panama, Colombia and South Korea need to resolve a number of outstanding concerns before Congress will approve free trade pacts with each of those countries, a US lawmaker said on Wednesday.
Around 350 US national, state and local groups from religious to environmental sectors, representing a combined total membership of 18 million, sent a letter to the House of Representatives asking lawmakers not to ratify the free trade agreement between Panama and the United States, insisting that Panama's economy thrives on banking secrecy and money laundering
54 democrat congressmen sent a letter to President Barack Obama asking him to forego the Free Trade Agreement with Panama, because it has refused to sign any tax information exchange treaties.
President Barack Obama plans to ask Congress to approve a long-delayed free-trade agreement with Panama and work to resolve remaining issues with the South Korea and Colombia accords so they can be ratified.
The free trade agreement between Panama and Honduras took effect on Jan. 9. The agreement has an impact on 80 percent of the goods traded between the countries.
There have been important advances in respect to the negotiation of goods and the access to loan and investment services a spokesman of the Panamanian Commerce and Industry Ministry.
