Panama - Peru FTA (2011)
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Title

FREE TRADE AGREEMENT BETWEEN THE REPUBLIC OF PANAMA AND THE REPUBLIC OF PERU

Preamble

PREAMBLE

The Government of the Republic of Peru, on the one hand, and the Government of the Republic of Panama, on the other hand, determined to:

STRENGTHEN the special ties of friendship and cooperation between them and promote regional economic integration;

PROPOSE the creation of a larger and more secure market for goods and services produced in their respective territories;

PROMOTE comprehensive economic development to reduce poverty;

PROMOTE the creation of new employment opportunities and improve working conditions and living standards in their respective territories;

ESTABLISH clear and mutually beneficial rules governing their commercial exchange; ENSURE a predictable legal and commercial framework for business and

investment;

RECOGNIZE that the promotion and protection of investments of one Party in the territory of the other Party will contribute to an increase in the flow of investments and stimulate mutually beneficial business activity;

AVOID distortions in their reciprocal trade;

PROMOTE the competitiveness of its companies in global markets;

FACILITATE trade by promoting efficient and transparent customs procedures that ensure predictability for importers and exporters;

STIMULATE creativity and innovation and promote trade in the innovative sectors of their economies;

PROMOTE transparency in international trade and investment; PRESERVE its ability to safeguard the public welfare; and

DEVELOP their respective rights and obligations under the Marrakesh Agreement Establishing the World Trade Organization and other treaties to which they are party,

HAVE AGREED as follows:

Body

Chapter 1. Initial Provisions and General Definitions

Section A. Initial Provisions

Article 1.1. Establishment of the Free Trade Zone

The Parties to this Agreement, in accordance with Article XXIV of the WTO General Agreement on Tariffs and Trade 1994 and Article V of the WTO General Agreement on Trade in Services, establish a free trade area.

Article 1.2. Objectives

The objectives of this Treaty are as follows:

(a) stimulate the expansion and diversification of trade between the Parties;

(b) eliminate unnecessary barriers to trade and facilitate the cross-border movement of goods and services between the Parties;

(c) promote conditions of free competition in the free trade zone;

(d) increase investment opportunities in the territories of the Parties;

(e) adequately and effectively protect and enforce intellectual property rights in the territory of each Party, taking into consideration the balance of rights and obligations arising therefrom; and

(f) create effective procedures for the implementation and enforcement of this Agreement, for its joint administration, and for preventing and resolving disputes.

Article 1.3. Relationship to other International Agreements

1. The Parties confirm the rights and obligations existing between them under the WTO Agreement and other agreements to which the Parties are parties.

2. In the event of any inconsistency between this Agreement and the agreements

referred to in paragraph 1, this Agreement shall prevail to the extent of the inconsistency, except as otherwise provided in this Agreement.

Article 1.4. Scope of Obligations

Each Party shall ensure the adoption of all measures necessary to give effect to the provisions of this agreement in its territory and at all levels of government.

Section B. General Definitions

Article 1.5. Definitions of General Application

For the purposes of this Agreement, unless otherwise specified:

WTO TRIPS Agreement means the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (1);

WTO Antidumping Agreement means the Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994 of the WTO;

WTO Customs Valuation Agreement means the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 of the WTO;

GATS of the WTO means the General Agreement on Trade in Services. of the WTO;

WTO SPS Agreement means the WTO Agreement on the Application of Sanitary and Phytosanitary Measures;

WTO TBT Agreement means the WTO Agreement on Technical Barriers to Trade;

WTO Agreement means the Marrakesh Agreement Establishing the World Trade Organization, dated April 15, 1994;

WTO Agreement on Safeguards means the WTO Agreement on Safeguards;

WTO Subsidies Agreement means the WTO Agreement on Subsidies and Countervailing Measures;

customs duty means any import tax or duty and a charge of any kind levied in connection with the importation of goods, including any form of surcharge or additional charge on imports, except any:

(a) charge equivalent to an internal tax established in accordance with Article Ill.2 of GATT 1994;

(b) antidumping duty or countervailing measure to be applied in accordance with a Party's domestic law and in accordance with Article VI of the GATT 1994, the WTO Agreement on Subsidies and Countervailing Measures and the WTO Agreement on Implementation of Article VI of GATT 1994; or

(c) duty or other charge related to the importation, proportional to the cost of the services rendered;

Chapter means the first two digits of the Harmonized System Tariff Classification Number;

Commission means the Free Trade Commission established pursuant to Article 20.1 (The Free Trade Commission);

procurement means the process by which a government acquires the use of or acquires goods or services, or any combination thereof, for governmental purposes and not with a view to commercial sale or resale or with a view to use in the production or supply of goods or services for commercial sale or resale;

days means calendar days;

corporation means any entity organized or organized under applicable law, whether or not for profit, or whether privately or governmentally owned, including corporations, trusts, partnerships, sole proprietorships, joint ventures, and other forms of associations;

GATT 1994 means the General Agreement on Tariffs and Trade 1994 of the WTO;

measure includes any law, regulation, procedure, requirement or practice; merchandise means any product, article or material;

goods of a Party means domestic products as understood in the GATT 1994 or such other goods as the Parties may agree, and includes goods originating in that Party;

originating good means that it qualifies under the rules of origin set out in Chapter 3 (Rules of Origin and Origin Procedures);

national means a natural person who has the nationality of a Party in accordance with Annex 1.5 or a permanent resident of a Party;

central level of government means the national level of government; regional level of government means for:

(a) Peru: regional government in accordance with the Political Constitution of the Republic of Peru and other applicable legislation; and

(b) Panama: "regional level of government" is not applicable; local level of government means for:

(a) Peru: provincial and local municipalities;

(b) Panama: municipalities;

WTO means the World Trade Organization;

Party means the Republic of Peru, on the one hand, and the Republic of Panama, on the other hand, jointly referred to as the Parties;

heading means the first four digits of the Harmonized System tariff classification number;

person means a natural person or a company; Harmonized System (HS) means the Harmonized Commodity Description and Coding System, including its General Rules of Interpretation, Section Notes and Chapter Notes;

subheading means the first six digits of the tariff classification number under the Harmonized System; and

territory means, for a Party, the territory of that Party as set out in Annex 1.5.

(1) For greater certainty, WTO TRIPS Agreement includes any waiver in force between the Parties of any provision of the WTO TRIPS Agreement granted by WTO Members pursuant to the WTO Agreement.

Annex 1.5. Country-Specific Definitions

For the purposes of this Agreement, unless otherwise specified in this Agreement:

Natural person who has the nationality of a Party means:

(a) with respect to the Republic of Peru, Peruvians by birth, naturalization or option in accordance with the provisions of the Political Constitution of Peru and the relevant domestic legislation; and

(b) with respect to the Republic of Panama, a Panamanian as defined in Articles 9, 10 and 11 of the Political Constitution of the Republic of Panama.

Territory (2) means:

(a) with respect to the Republic of Peru, the continental territory, the islands, th e maritime spaces and the air space that covers them, under sovereignty or sovereign rights and jurisdiction of Peru, in accordance with its Internal Law and International Law; and

(b) with respect to the Republic of Panama, the land, maritime and air space under its sovereignty; the exclusive economic zone and the continental shelf, over which it exercises sovereign rights and jurisdiction, in accordance with its national legislation and international law.

(2) For greater certainty, the definition of and references to "territory" contained in this Agreement apply solely for purposes of determining the geographic scope of application of this Agreement.

Chapter 2. Access to Commodity Markets

Article 2.1. Scope of Application

Except as otherwise provided in this Agreement, this Chapter applies to trade in goods of a Party.

Section A. National Treatment

Article 2.2. National Treatment

1. Each Party shall accord national treatment to goods of the other Party in accordance with Article III of the GATT 1994, including its interpretative notes, and to that end Article III of the GATT 1994 and its interpretative notes are incorporated into and made an integral part of this Agreement, mutatis mutandis.

2. Paragraph 1 shall not apply to the measures listed in Annex 2.2 (National Treatment and Import and Export Restrictions).

Section B. Tariff Elimination

Article 2.3. Tariff Elimination

1. Except as otherwise provided in this Agreement, neither Party may increase any existing customs duty, or adopt any new customs duty, on a good originating in the other Party.

2. Except as otherwise provided in this Agreement, each Party shall eliminate its customs duties on originating goods of the other Party in accordance with Annex 2.3 (Tariff Elimination Program).

3. The tariff elimination program provided for in this Chapter shall not apply to used goods, including goods that are identified as such in headings or subheadings of the Harmonized System. Used goods also include goods that have been rebuilt, remanufactured, remanufactured or any other similar appellation given to goods that after having been used have undergone some process to restore them to their original characteristics or specifications, or to restore them to the functionality they had when new. (1)

4. At the request of any Party, consultations shall be held to consider the improvement of tariff conditions for market access in accordance with the Annex. 2.3 (Tariff Elimination Program).

5. Notwithstanding Article 20.1 (Free Trade Commission), an agreement between the Parties to improve the tariff conditions for market access of a good shall prevail over any customs duty or category defined in Annex 2.3 (Tariff Elimination Program) for such good, when approved by the Parties in accordance with their applicable legal procedures.

6. For greater certainty, a Party may:

(a) increase a customs tariff to the level set forth in Annex 2.3 (Tariff Elimination Program), following a unilateral reduction; or

(b) maintain or increase a customs tariff when authorized by the WTO Dispute Settlement Body.

(1) For greater certainty, this paragraph shall not apply to recycled goods.

Section C. Special Regimes

Article 2.4. Exemption from Customs Duties

1. No Party may adopt a new exemption from customs duties, or extend the application of an existing exemption from customs duties with respect to existing beneficiaries, or extend it to new beneficiaries, where the exemption is conditioned, explicitly or implicitly, on compliance with a performance requirement.

2. No Party may condition, explicitly or implicitly, the continuation of any existing customs duty exemption on compliance with a performance requirement.

Article 2.5. Temporary Admission of Goods

1. Each Party shall authorize temporary admission free of customs duties, irrespective of their origin, for the following goods:

(a) professional equipment, including equipment for scientific research, medical activities, press or television, computer software, and broadcasting and cinematographic equipment necessary for the exercise of the business, trade or profession of a person who qualifies for temporary entry under the legislation of the importing Party;

(b) goods intended for display or demonstration at exhibitions, fairs, meetings or similar events;

(c) commercial samples, films and advertising recordings; and

(d) goods admitted for sporting purposes.

2. Each Party shall, at the request of the person concerned and for reasons deemed valid by its customs authority, extend the time limit for temporary admission beyond the period initially fixed in accordance with national legislation.

3. No Party may condition the temporary duty-free admission of a good referred to in paragraph 1 on conditions other than that the good:

(a) is used solely by or under the personal supervision of a national or resident of the other Party in the exercise of that person's business, trade, professional or sporting activity;

(b) is not subject to sale or lease while it remains in its territory;

(c) is accompanied by a bond or guarantee in an amount not exceeding the charges that would otherwise be due for entry or final importation, refundable at the time of departure of the merchandise;

(d) is susceptible to identification when exported;

(e) is exported upon the departure of the person referred to in subparagraph (a), or within such period corresponding to the purpose of the temporary admission as the Party may establish, or within one year, unless extended;

(f) is admitted in quantities no greater than is reasonable in accordance with its intended use; and

(g) otherwise admissible in the territory of the Party in accordance with its national legislation.

4. If any of the conditions imposed by a Party under paragraph 3 have not been met, the Party may apply the customs duty and any other charges that would normally be due on the good plus any other charges or penalties established in accordance with its national legislation.

5. Each Party shall adopt and maintain procedures to facilitate the expeditious clearance of goods admitted under this Article. To the extent possible, such procedures shall provide that when such merchandise accompanies a national or resident of the other Party who is requesting temporary entry, the merchandise shall be cleared simultaneously with the entry of that national or resident.

6. Each Party shall allow a good temporarily admitted under this Article to be exported through a customs port other than the port through which it was admitted.

7. Each Party shall provide that the importer or other person responsible for a good admitted pursuant to this Article shall not be liable for the inability to export the good upon presentation of evidence satisfactory to the importing Party that the good has been destroyed within the original time limit fixed for temporary admission or any lawful extension.

8. Subject to Chapters 12 (Investment) and 13 (Cross-Border Trade in Services), no Party may:

(a) prevent a vehicle or container used in international transportation that has entered its territory from the other Party from leaving its territory by any route that has a reasonable relation to the prompt and economic departure of such vehicle or container;

(b) The port of entry of the vehicle or container is different from the port of departure, and no bond shall be required and no penalty or charge shall be imposed solely on the grounds that the port of entry of the vehicle or container is different from the port of departure;

(c) condition the release of any obligation, including any bond, which it has applied to the entry of a vehicle or container into its territory, to its departure through a particular port; and

(d) require that the vehicle or carrier bringing a container into its territory from the territory of the other Party be the same vehicle or carrier bringing it into the territory of that other Party.

9. For the purposes of paragraph 8, vehicle means a truck, tractor-trailer, tractor, trailer or trailer unit, locomotive or wagon or other railway equipment.

Article 2.6. Goods Reimported after Repair or Alteration

1. No Party may apply a customs duty to a good, regardless of its origin, that has been re-entered into its territory after having been temporarily exported from its territory to the territory of the other Party to be repaired or altered, regardless of whether such repairs or alterations could have been carried out in the territory of the Party from which the good was exported for repair or alteration.

2. Neither Party may apply a customs duty to a good that, regardless of its origin, is temporarily admitted from the territory of the other Party for the purpose of being repaired or altered.

3. For the purposes of this Article, repair or alteration does not include an operation or process that:

(a) destroys the essential characteristics of a good or creates a new or commercially different good; or

(b) transforms an unfinished good into a finished good.

Article 2.7. Free Lmport from Tariffs Tariffs for Commercial Samples of Insignificant Value and Printed Advertising Materials

Each Party shall allow duty-free importation of commercial samples of negligible value and printed advertising materials imported from the territory of the other Party, regardless of their origin, but may require that:

(a) such samples are imported solely for the purpose of soliciting orders for goods or services supplied from the territory of the other Party or a non Party; or

(b) such advertising materials are imported in packages containing not more than one printed copy each and that neither the materials nor the packages are part of a larger consignment.

Section D. Non-Tariff Measures

Article 2.8. Import and Export Restrictions

1. Except as otherwise provided in this Agreement, no Party may adopt or maintain any non-tariff measure that prohibits or restricts the importation of any good of the other Party or the exportation or sale for export of any good destined for the territory of the other Party, except as provided in Article XI of the GATT 1994 and its interpretative notes, and to this end, Article XI of the GATT 1994 and its interpretative notes are incorporated into this Agreement and form an integral part thereof, mutatis mutandis.

2. The Parties understand that the rights and obligations of the GATT 1994 embodied in paragraph 1 prohibit, in any circumstances in which any other type of restriction is prohibited, a Party from adopting or maintaining:

(a) export and import price requirements, except as permitted for the enforcement of antidumping and countervailing duty provisions and undertakings;

(b) granting import licenses conditional on compliance with a performance requirement; or

(c) voluntary export restrictions incompatible with Article VI of GATT 1994, implemented under Article 18 of the SCM Agreement and Article 8.1 of the WTO Antidumping Agreement.

3. Paragraphs 1 and 2 shall not apply to the measures set out in Annex 2.2 (National Treatment and Import and Export Restrictions).

Page 1 Next page
  • Chapter   1 Initial Provisions and General Definitions 1
  • Section   A Initial Provisions 1
  • Article   1.1 Establishment of the Free Trade Zone 1
  • Article   1.2 Objectives 1
  • Article   1.3 Relationship to other International Agreements 1
  • Article   1.4 Scope of Obligations 1
  • Section   B General Definitions 1
  • Article   1.5 Definitions of General Application 1
  • Annex 1.5  Country-Specific Definitions 1
  • Chapter   2 Access to Commodity Markets 1
  • Article   2.1 Scope of Application 1
  • Section   A National Treatment 1
  • Article   2.2 National Treatment 1
  • Section   B Tariff Elimination 1
  • Article   2.3 Tariff Elimination 1
  • Section   C Special Regimes 1
  • Article   2.4 Exemption from Customs Duties 1
  • Article   2.5 Temporary Admission of Goods 1
  • Article   2.6 Goods Reimported after Repair or Alteration 1
  • Article   2.7 Free Lmport from Tariffs Tariffs for Commercial Samples of Insignificant Value and Printed Advertising Materials 1
  • Section   D Non-Tariff Measures 1
  • Article   2.8 Import and Export Restrictions 1
  • Article   2.9 Import and Export Licensing 2
  • Article   2.10 Administrative Burdens and Formalities 2
  • Article   2.11 Export Taxes 2
  • Section   E Other Measures 2
  • Article   2.12 State Trading Enterprises 2
  • Article   2.13 Customs Valuation 2
  • Section   F Agriculture 2
  • Article   2.14 Scope and Coverage 2
  • Article   2.15 Agricultural Export Subsidies 2
  • Section   G Institutional Arrangements Rule 2
  • Article   2.16 Committee on Trade In Goods 2
  • Section   H Definitions 2
  • Article   2.17 Definitions 2
  • Chapter   3 Rules of Origin and Origin Procedures 2
  • Section   A Rules of Origin 2
  • Article   3.1 Originating Goods 2
  • Article   3.2 Wholly Obtained or Wholly Produced Goods 2
  • Article   3.3 Regional Content Value 2
  • Article   3.4 Minimum Operations or Processes 2
  • Article   3.5 Intermediate Material 2
  • Article   3.6 Accumulation 2
  • Article   3.7 De Minimis 2
  • Article   3.8 Goods and Fungible Materials 2
  • Article   3.9 Accessories, Spare Parts and Tools 2
  • Article   3.10 Sets or Assortments of Goods 2
  • Article   3.11 Retail Containers and Packaging Materials 2
  • Article   3.12 Containers and Packing Materials for Shipment 2
  • Article   3.13 Indirect Materials 3
  • Article   3.14 Direct Transport 3
  • Section   B Origin Procedures 3
  • Article   3.15 Proof of Origin 3
  • Article   3.16 Certificate of Origin 3
  • Article   3.17 Declaration of Origin 3
  • Article   3.18 Approved Exporter 3
  • Article   3.19 Notifications 3
  • Article   3.20 Electronic Certificate of Origin 3
  • Article   3.21 Obligations Relating to Imports 3
  • Article   3.22 Refund of Customs Duties 3
  • Article   3.23 Supporting Documents 3
  • Article   3.24 Preservation of Proofs of Origin and Supporting Documents 3
  • Article   3.25 Exceptions to the Proof of Origin Requirement 3
  • Article   3.26 Verification Process 3
  • Article   3.27 Measures to Guarantee the Fiscal Interest 3
  • Article   3.28 Sanctions 3
  • Article   3.29 Review and Appeal Appeals 3
  • Article   3.30 Confidentiality 3
  • Article   3.31 Invoicing by a Third Country 3
  • Article   3.32 Uniform Regulations 3
  • Article   3.33 Rules of Origin Committee 3
  • Article   3.34 Re-export Certificate 4
  • Article   3.35 Definitions 4
  • Chapter   4 Trade Facilitation and Customs Procedures 4
  • Article   4.1 Publication 4
  • Article   4.2 Dispatch of Goods 4
  • Article   4.3 Automation 4
  • Article   4.4 Risk Administration or Risk Management 4
  • Article   4.5 Transit of Goods 4
  • Article   4.6 Expedited Delivery Shipments 4
  • Article   4.7 Authorized Economic Operator 4
  • Article   4.8 Foreign Trade Single Window 4
  • Article   4.9 Review and Appeal 4
  • Article   4.10 Sanctions 4
  • Article   4.11 Advance Rulings 4
  • Article   4.12 Committee on Trade Facilitation and Customs Procedures 4
  • Chapter   5 Cooperation and Mutual Administrative Assistance In Customs Matters 4
  • Article   5.1 Scope 4
  • Article   5.2 Implementation 4
  • Article   5.3 Communication of Information 4
  • Article   5.4 Verification 4
  • Article   5.5 Cooperation and Technical Assistance 4
  • Article   5.6 Applications 5
  • Article   5.7 Execution of Applications 5
  • Article   5.8 Archives, Documents and other Materials 5
  • Article   5.9 Use of Information 5
  • Article   5.10 Confidentiality 5
  • Article   5.11 Costs 5
  • Article   5.12 Exception from the Obligation to Provide Assistance 5
  • Article   5.13 Process of Verification of Compliance Y Dispute Resolution Dispute Resolution 5
  • Article   5.14 Definitions 5
  • Chapter   6 Sanitary and Phytosanitary Measures 5
  • Article   6.1 Scope of Application 5
  • Article   6.2 Objectives 5
  • Article   6.3 Reaffirmation of WTO SPS Agreement 5
  • Article   6.4 Rights and Obligations of the Parties 5
  • Article   6.5 Equivalence 5
  • Article   6.6 Risk Assessment and Determination of the Appropriate Level of SPS Protection 5
  • Article   6.7 Adaptation to Regional Conditions with Inclusion of Pest- or Disease Free Areas and Areas of Low Pest or Disease Prevalence 5
  • Article   6.8 Inspection, Control and Approval 5
  • Article   6.9 Transparency 5
  • Article   6.10 Cooperation and Technical Assistance 5
  • Article   6.11 Committee on Sanitary and Phytosanitary Measures 5
  • Article   6.12 Settlement of Disputes 5
  • Article   6.13 Definitions 5
  • Chapter   7 TechnicalĀ Barriers to Trade 5
  • Article   7.1 Scope of Application 5
  • Article   7.2 Objectives 5
  • Article   7.3 Reaffirmation of the WTO TBT Agreement 5
  • Article   7.4 Trade Facilitation 5
  • Article   7.5 Use of International Standards 5
  • Article   7.6 Technical Regulations 5
  • Article   7.7 Conformity Assessment 5
  • Article   7.8 Transparency 6
  • Article   7.9 Technical Cooperation 6
  • Article   7.10 Committee on Technical Barriers to Trade 6
  • Article   7.11 Exchange of Information 6
  • Article   7.12 Definitions 6
  • Chapter   8 Trade Defense 6
  • Section   A Bilateral Safeguard Measures 6
  • Article   8.1 Imposition of a Bilateral Safeguard Measure 6
  • Article   8.2 Standards for a Bilateral Safeguard Measure 6
  • Article   8.3 Investigation Procedures and Transparency Requirements 6
  • Article   8.4 Provisional Bilateral Safeguard Measures 6
  • Article   8.5 Notification and Consultation 6
  • Article   8.6 Compensation 6
  • Article   8.7 Definitions 6
  • Section   B Global Safeguarding Measures 6
  • Article   8.8 Global Safeguarding Measures 6
  • Section   C Antidumping and Countervailing Duties 6
  • Article   8.9 Antidumping and Countervailing Duties 6
  • Section   D Cooperation 6
  • Article   8.10 Cooperation 6
  • Chapter   9 Intellectual Property 6
  • Article   9.1 Basic Principles 6
  • Article   9.2 General Provisions 6
  • Article   9.3 Marks 6
  • Article   9.4 Geographical Indications 7
  • Article   9.5 Traditional Knowledge 7
  • Article   9.6 Measures Related to the Protection of Biodiversity and TraditionalĀ Knowledge 7
  • Article   9.7 Copyright and Related Rights 7
  • Article   9.8 Enforcement 7
  • Article   9.9 Cooperation and Science and Technology 7
  • Chapter   10 PublicĀ Procurement 7
  • Article   10.1 Scope of Application 7
  • Article   10.2 Safety and General Exceptions 7
  • Article   10.3 General Principles 7
  • Article   10.4 Use of Electronic Means In Public Contracting 8
  • Article   10.5 Publication of Procurement Information 8
  • Article   10.6 Publication of Notices 8
  • Article   10.7 Conditions for Participation 8
  • Article   10.8 Information on Future Procurements 8
  • Article   10.9 Deadlines 8
  • Article   10.10 Procurement Procedures 8
  • Article   10.11 Electronic Auctions 8
  • Article   10.12 Opening of Bids and Award of Contracts 8
  • Article   10.13 Transparency of Procurement Information 8
  • Article   10.14 Disclosure of Information 8
  • Article   10.15 Article 10.15: National Review Procedures for the Lodging of Appeals 8
  • Article   10.16 Modifications and Amendments to Coverage 8
  • Article   10.17 Integrity In Procurement Practices 9
  • Article   10.18 Additional Negotiations 9
  • Article   10.19 Participation of Micro, Small and Medium-Size Enterprises 9
  • Article   10.20 Cooperation 9
  • Article   10.21 Public Procurement Committee 9
  • Article   10.22 Definitions 9
  • Chapter   11 Competition Policy 9
  • Article   11.1 Objectives 9
  • Article   11.2 Legislation and Competent Authorities 9
  • Article   11.3 Cooperation 9
  • Article   11.4 Notifications 9
  • Article   11.5 Exchange of Information 9
  • Article   11.6 Consultations 9
  • Article   11.7 Settlement of Disputes 9
  • Chapter   12 Investment 9
  • Section   A Substantive Obligations 9
  • Article   12.1 Scope of Application and Coverage (1) 9
  • Article   12.2 National Treatment 9
  • Article   12.3 Most-Favored-Nation Treatment 9
  • Article   12.4 Minimum Standard of Treatment (2) 9
  • Article   12.5 Senior Management and Boards of Directors 9
  • Article   12.6 Performance Requirements 9
  • Article   12.7 Nonconforming Measures 9
  • Article   12.8 Environmental Measures 10
  • Article   12.9 Treatment In the Event of a Dispute 10
  • Article   12.10 Expropriation and Compensation (7) 10
  • Article   12.11 Transfers 10
  • Article   12.12 Denial of Benefits 10
  • Article   12.13 Special Formalities and Information Requirements 10
  • Article   12.14 Subrogation 10
  • Section   B Investor-State Dispute Settlement 10
  • Article   12.15 Consultation and Negotiation 10
  • Article   12.16 Submission of a Claim to Arbitration 10
  • Article   12.17 Consent of Each Party to Arbitration 10
  • Article   12.18 Conditions and Limitations on Consent of Each Party 10
  • Article   12.19 Procedure Regarding Prudential Measures 10
  • Article   12.20 Selection of Arbitrators 10
  • Article   12.21 Conduct of the Arbitration 10
  • Article   12.22 Transparency In Arbitration Proceedings 10
  • Article   12.23 Applicable Law 11
  • Article   12.24 Interpretation of Exhibits 11
  • Article   12.25 Expert Reports 11
  • Article   12.26 Consolidation of Proceedings 11
  • Article   12.27 Awards 11
  • Article   12.28 Finality and Enforcement of an Award 11
  • Article   12.29 Delivery of Documents 11
  • Section   C Definitions 11
  • Article   12.30 Definitions 11
  • Annex 12.4  Customary International Law 11
  • Annex 12.10  Expropriation 11
  • Annex 12.15  Delivery of Documents to a Party under Section B (Investor-State Dispute Settlement) 11
  • Annex 12.21  Communications from Non-Disputing Parties 11
  • Chapter   13 Cross-Border Trade In Services 12
  • Article   13.1 Scope of Application 12
  • Article   13.2 Subsidies 12
  • Article   13.3 National Treatment 12
  • Article   13.4 Most-Favored-Nation Treatment 12
  • Article   13.5 Market Access 12
  • Article   13.6 Local Presence 12
  • Article   13.7 Nonconforming Measures 12
  • Article   13.8 Notification (4) 12
  • Article   13.9 Transparency In the Development and Application of the Regulations (5) 12
  • Article   13.10 National Regulations 12
  • Article   13.11 Mutual Recognition 12
  • Article   13.12 Transfers and Payments 12
  • Article   13.13 Denial of Benefits 12
  • Article   13.14 Implementation 12
  • Article   13.15 Definitions 12
  • Appendix 13.11  Professional Services 12
  • Chapter   14 Financial Services 12
  • Article   14.1 Scope of Application and Coverage 12
  • Article   14.2 National Treatment 13
  • Article   14.3 Most-Favored-Nation Treatment 13
  • Article   14.4 Recognition 13
  • Article   14.5 Right of Establishment 13
  • Article   14.6 Cross-Border Trade 13
  • Article   14.7 New Financial Services 13
  • Article   14.8 Treatment of Certain Information 13
  • Article   14.9 Senior Management and Boards of Directors 13
  • Article   14.10 Nonconforming Measures 13
  • Article   14.11 Exceptions 13
  • Article   14.12 Transparency 13
  • Article   14.13 Self-Regulatory Organizations 13
  • Article   14.14 Payment and Clearing Systems 13
  • Article   14.15 Financial Services Committee 13
  • Article   14.16 Consultations 13
  • Article   14.17 Settlement of Disputes 13
  • Article   14.18 Financial Services Investment Disputes 13
  • Article   14.19 Definitions 13
  • Annex 14.6  Cross Border Trade 14
  • Section   A Panama 14
  • Section   B Peru 14
  • Appendix 14.15  Authorities Responsible for Financial Services 14
  • Chapter   15 Maritime Services 14
  • Article   15.1 Scope of Application 14
  • Article   15.2 Participation In Transportation 14
  • Article   15.3 National Treatment 14
  • Article   15.4 Agents and Representatives 14
  • Article   15.5 Recognition of Vessel Documentation 14
  • Article   15.6 Recognition of Travel Documents of the Crew Members O F a Party's Vessel 14
  • Article   15.7 Jurisdiction 14
  • Article   15.8 Cooperation 14
  • Article   15.9 Points of Contact 14
  • Article   15.10 Definitions 14
  • Chapter   16 Telecommunications 14
  • Article   16.1 Scope of Application 14
  • Article   16.2 Access to and Use of Public Telecommunication Networks and Services (2) 14
  • Article   16.3 Procedures Relating to Licenses or Concessions 14
  • Article   16.4 Behavior of Dominant or Significant Suppliers 14
  • Article   16.5 Universal Service 15
  • Article   16.6 Allocation and Use of Scarce Resources 15
  • Article   16.7 Regulatory Body 15
  • Article   16.8 Compliance 15
  • Article   16.9 Settlement of Domestic Telecommunication (3) 15
  • Article   16.10 Transparency 15
  • Article   16.11 Abstention 15
  • Article   16.12 Relation to other Chapters 15
  • Article   16.13 International Standards and Organizations 15
  • Article   16.14 Definitions 15
  • Chapter   17 Temporary Entry of Business Persons 15
  • Article   17.1 General Principles 15
  • Article   17.2 General Obligations 15
  • Article   17.3 Temporary Entry Authorization 15
  • Article   17.4 Exchange of Information 15
  • Article   17.5 Committee on Temporary Entry of Business Persons 15
  • Article   17.6 Cooperation 15
  • Article   17.7 Settlement of Disputes 15
  • Article   17.8 Relationship with other Chapters 15
  • Article   17.9 Transparency In the Processing of Applications 15
  • Article   17.10 Definitions 15
  • Annex 17.3(1)  Categories of Business Persons 15
  • Section   A Business Visitors 15
  • Appendix 1  Business Visitors 16
  • Section   B Merchants and Investors 16
  • Section   C Intracompany Transfers of Personnel 16
  • Annex 17.3(2)  Section C: Intracompany Transfers of Personnel 16
  • Panama 16
  • Section   A Business Visitors 16
  • Section   B Merchants and Investors 16
  • Section   C Intracompany Transfers of Personnel 16
  • Peru 16
  • Section   A Business Visitors 16
  • Section   B Merchants and Investors 16
  • Section   C Intracompany Transfers of Personnel 16
  • Chapter   18 Dispute Resolution 16
  • Article   18.1 Cooperation 16
  • Article   18.2 Scope of Application 16
  • Article   18.3 Election of the Forum 16
  • Article   18.4 Consultations 16
  • Article   18.5 Establishment of a Panel 16
  • Article   18.6 Qualifications of Panelists 16
  • Article   18.7 Selection of the Panel 16
  • Article   18.8 Rules of Procedure 16
  • Article   18.9 Report of the Panel 16
  • Article   18.10 Compliance with the Report 16
  • Article   18.11 Noncompliance - Suspension of Benefits 16
  • Article   18.12 Compliance Review and Suspension of Benefits 17
  • Article   18.13 Matters Relating to Judicial and Administrative Proceedings 17
  • Article   18.14 Rights of Individuals 17
  • Article   18.15 Alternative Means of Dispute Resolution 17
  • Article   18.16 Suspension and Termination of Proceedings 17
  • Chapter   19 Transparency 17
  • Article   19.1 Points of Contact 17
  • Article   19.2 Publication 17
  • Article   19.3 Provision of Information 17
  • Article   19.4 Administrative Procedures 17
  • Article   19.5 Review and Challenge 17
  • Article   19.6 Specific Standards 17
  • Article   19.7 Definitions 17
  • Chapter   20 Administration of the Treaty 17
  • Article   20.1 The Free Trade Commission 17
  • Article   20.2 Free Trade Agreement Coordinators 17
  • Article   20.3 Administration of Dispute Settlement Procedures 17
  • Annex 20.1  The Free Trade Commission 17
  • Annex 20.2  Free Trade Agreement Coordinators 17
  • Chapter   21 Exceptions 17
  • Article   21.1 General Exceptions 17
  • Article   21.2 Essential Security 17
  • Article   21.3 Taxation 17
  • Article   21.4 Disclosure of Information 17
  • Article   21.5 Balance of Payments Safeguard Measures 17
  • Chapter   22 Final Provisions 17
  • Article   22.1 Annexes, Appendices and Footnotes 17
  • Article   22.2 Amendments 17
  • Article   22.3 Article 22.3: Amendments to the WTO Agreement 17
  • Article   22.4 Reservations and Interpretative Statements (1) 17
  • Article   22.5 Entry Into Force 17
  • Article   22.6 Denunciation 18
  • Annex I  Nonconforming Measures 18
  • Annex I  Explanatory Note 18
  • Annex I  Schedule of Panama 18
  • Annex I  Schedule of Peru 20
  • Annex II  Nonconforming Measures 22
  • Annex II  Explanatory Note 22
  • Annex IIĀ   Schedule of Panama 22
  • Annex II  Schedule of Peru 23