Related Keywords: a variable component, breached the maximum allowable percent tariff, case brought to World Trade Organization, Colombias neighbour Panama, complaint over Colombia tariff on textile and clothing, dismissing argument, illicit trade, measures needed to fight -money laundering, tariff consisted of fixed ten percent, WTO panel backs Panama
Colombia's neighbour Panama case which had been brought to the World Trade Organization in 2013 against Colombia’s tariff on textiles, clothes and shoes was backed by the WTO panel. Panama had complaint that the tariffs, which consisted of a fixed 10 percent and a variable component, breached the maximum allowable 35-40 percent tariff on those products.
Previously, Panama had lodged two complaints against its neighbor for which the first was settled by Colombia out of court in 2006, while the second dispute in 2009 was won by Panama.
