Free Trade Agreement Panama - Israel

The Free Trade Agreement between Israel and Panama entered into force on January 2020. It provides for the full or partial border tariff elimination for most energy products, including: 

• Electric motors, turbines and generators; 
• Mechanical equipment including pumps, appliances, and other advanced machinery; 
• Electric accumulators, transformers, capacitors, batteries; 
• Motor vehicles; 
• Mineral ore, slag and ash; 
• Mineral fuels, oils and other products; 
• Metals and their articles e.g. iron and steel; 
• Semiconductors devices and photovoltaic cells; 

Under the rules of origin delineated in the Agreement, goods are counted as originating from each country and thus benefitting from preferential tariff treatment:

• they are wholly produced or obtained in one of the signatory countries (applicable to minerals, raw materials, waste and scrap materials).
• they meet specific standards (applicable to manufactured goods), such as having undertaken a production process in one of the signatory countries entailing changes in HS codes, and meeting minimum regional value content (RVC) requirements

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