Panama will soon negotiate a double taxation avoidance agreement and
boost the exchange of customs information with Vietnam, the Panama
Ministry of Economy and Finance has said.
The move
is part of Panama’s efforts to build its legal system of
international standards and improve its economy’s competitiveness.
Panama is currently carrying out 11 double taxation avoidance
agreements with other countries, of which Singapore is the only
signature in Southeast Asia.
It is also negotiating 18 other agreements, said the ministry.
According to the Vietnam General Department of Customs, two-way trade
between Vietnam and Panama has seen a rapid growth in recent
years, increasing from 50 million USD in 2005 to 244 million USD in
2012.
Last year, Vietnam’s exports to the Central American nation exceed 237 million USD.-VNA