Last June, Panama and the United States joined forces to boost the semiconductor sector and thus foster a more resilient global chain given the Central American country's potential to be an "assembly, packaging and testing center" for these devices commonly known as chips.
Following this newly formed partnership, the National Customs Authority (ANA) held a meeting with members of the Organization for Economic Cooperation and Development (OECD), and the Ministry of Foreign Affairs to establish a work route to identify safe and reliable elements that can strengthen the semiconductor supply chain, ANA reported in a press release issued on Wednesday (02.08.2023/XNUMX/XNUMX).
At that meeting, the General Director of Customs, Tayra Barsallo indicated to the team of the OECD Due to its geographical position, Panama has advantages such as: connectivity with airlines, 5 ports (3 in the Atlantic and 2 in the Pacific), free trade zones and warehouses in the ports for repacking merchandise, which allows for inventory management.
He also highlighted the 35 companies with Authorized Economic Operator (AEO) recognition, the Free Trade Agreements with different nations, and mutual recognition agreements with various countries to streamline processes within and outside borders.
According to ANA, international participants expressed their willingness to collaborate to integrate into the global semiconductor chain and make the most of the opportunities Panama has to offer.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
