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NFTC Welcomes Removal of Panama from OECD Grey List
Date: 7/6/2011
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington, DC – The National Foreign Trade Council (NFTC) today welcomed news that Panama has been removed from the Organization for Cooperation and Development’s (OECD) grey list. The NFTC released the following statement:

“We applaud Panama for taking action to increase transparency and cooperation on tax-related issues with the United States and other nations around the world.

“The removal of Panama from the OECD’s grey list is a major accomplishment, which symbolizes the international community’s recognition of recent steps the Panamanian government has taken.

“Today’s news is also a reminder of the fact that Panama and our other pending FTA partners – Colombia and South Korea – have enacted reforms and made legislative changes and other adjustments to address every challenge or concern the United States has raised during the lead up to the FTA ratification process. Facing a wide range of domestic pressures, each government’s efforts were not easy, but they all rose to the occasion.

“Now is the time for Congress to do its job by approving the pending FTAs and an extension of TAA and the trade preference programs without further delay.”

 
 
About NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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