the customs regime Comparison between Colombia and Panama for the development of the free trade agreement

Abstract

The purpose of this review article is to compare the Customs regimes of two nations that are very important for the economy of Latin America; Colombia and Panama, whit the objective of identifying the differences and similarities between the regulations of each country; where research and analysis will be carried out that will be of great importance for a possible Free Trade Agreement in the future; for this reason, the scientific method for the development of this study represents the principles of the research that makes possible the collection of the most important contributions on the subject since 2018 from research; therefore, a bibliographic review of scientific articles will be visualized in the development of the same, which benefits and opportunities will be able to take full advantage, due to fact that at this moment there are entrepreneurs who are unaware of the Colombia and Panama legislation regarding foreign trade issues; finally, it is concluded that both countries have more differences that similarities in terms of the customs regime, since, Panama can be considered a more commercial country and attracts more industry and foreign investment due to the advantage of its strategic location.