Index
Preamble
Chapter One	Initial Provisions
Article 1.1	Establishment of a Free Trade Area
Article 1.2	Objectives
Article 1.3	Relation to Other Agreements
Article 1.4	Extent of Obligations
Chapter Two	General Definitions
Article 2.1	Definitions of General Application
	Annex 2.1: Country-Specific Definitions
Chapter Three	National Treatment and Market Access for Goods
Article 3.1	Scope and Coverage
Section A	National Treatment
Article 3.2	National Treatment
Section B	Tariff Elimination
Article 3.3	Tariff Elimination
Section C	Special Regimes
Article 3.4	Waiver of Customs Duties
Article 3.5	Temporary Admission of Goods
Article 3.6	Goods Re-Entered after Repair or Alteration
Article 3.7	Duty-Free Entry of Commercial Samples of Negligible Value and Printed Advertising Materials
Section D	Non-Tariff Measures
Article 3.8	Import and Export Restrictions
Article 3.9	Import Licensing
Article 3.10	Administrative Fees and Formalities
Article 3.11	Export Taxes
Section E	Other Measures
Article 3.12	Distinctive Products
Section F	Agriculture
Article 3.13	Scope and Coverage
Article 3.14	Administration and Implementation of Tariff-Rate Quotas
Article 3.15	Agricultural Export Subsidies
Article 3.16	Export State Trading Enterprises
Article 3.17	Agricultural Safeguard Measures
Article 3.18	Sugar Compensation Mechanism
Article 3.19	Agriculture Review Comission
Article 3.20	Committee on Agricultural trade
Section G	Textiles and Apparel
Article 3.21	Customs Cooperation
Article 3.22	Monitoring
Article 3.23	Consultations on Customs Cooperation and Monitoring
Article 3.24	Textile Safeguard Measures
Article 3.25	Rules of Origin and Related Matters
Article 3.26	Most-Favored-Nation Rates of Duty on Certain Goods
Article 3.27	Duty-Free Treatment for Certain Goods
Article 3.28	Duty-Free Treatment for Certain Guayabera-Style Dresses and Shirts
Article 3.29	Duty-Free Treatment for Certain Socks
Article 3.30	Definitions
Section H	Institutional Provisions
Article 3.31	Committee on Trade in Goods
Section I	Definitions
Article 3.32	Definitions
Chapter Four	Rules of Origin and Origin Procecures
Section A	Rules of Origin
Article 4.1	Original Goods
Article 4.2	Regional Value Content
Article 4.3	Value of Materials
Article 4.4	Further Adjustments to the Value of Materials
Article 4.5	Accumulation
Article 4.6	De Minimis Rule
Article 4.7	Fungible Goods and Materials
Article 4.8	Accesories, Spare Parts, and Tools
Article 4.9	Packaging Materials and Containers for Retail Sale
Article 4.10	Packing Materials and Containers for Shipment
Article 4.11	Indirect Materials Used in Production
Article 4.12	Transit and Transshipment
Article 4.13	Set of Goods
Article 4.14	Consultation and Modifications
Section B	Original Procedures
Article 4.15	Claims of Origin
Article 4.16	Obligations Relating to Importations
Article4.17	Exceptions
Article 4.18	Obligations Relating to Exportations
Article 4.19	Record Keeping Requirements
Article 4.20	Verification
Article 4.21	Common Guidelines
Article 4.22	Aplication of Certain Provisions
Article 4.23	Definitions
Chapter Five	Customs Administration and Trade Facilitation
Article 5.1	Publication
Article 5.2	Release of Goods
Article 5.3	Automation
Article 5.4	Risk Management
Article 5.5	Cooperation
Article 5.6	Confidentiality
Article 5.7	Express Shipments
Article 5.8	Review and Appeal
Article 5.9	Penalties
Article 5.10	Advance Rulings
Article 5.11	Panamanian Free Zone Monitoring Program
Article 5.12	Application of Certain Provisions
Chapter Six	Sanitary and Phytosanitary Measures
Article 6.1	Affirmation of the SPS Agreement
Article 6.2	Scope and Coverage
Article 6.3	Committee on Sanitary and Phitosanitary Matters
Chapter Seven	Technical Barriers to Trade
Article 7.1	Affirmation of the TBT Agreement
Article 7.2	Scope and Coverage
Article 7.3	International Standards
Article 7.4	Trade Facilitation
Article 7.5	Conformity Assessment
Article 7.6	Technical Regulations
Article 7.7	Transparency
Article 7.8	Committee on Technical Barriers to Trade
Article 7.9	Information Exchange
Article 7.10	Definitions
Chapter Eight	Trade Remedies
Section A	Safeguards
Article 8.1	Imposition of a Safeguard Measure
Article 8.2	Standards for a Safeguard Measure
Article 8.3	Administration of Safeguard Proceedings
Article 8.4	Notification and Consultation
Article 8.5	Compensation
Article 8.6	Global Actions
Article 8.7	Definitions
Section B	Antidumping and Countervailing Duties
Article 8.8	Antidumping and Countervailing Duties
Chapter Nine	Government Procurement
Article 9.1	Scope and Coverage
Article 9.2	General Principles
Article 9.3	Publication of Procurement Measures
Article 9.4	Publication of Notice of Intended Procurement
Article 9.5	Time Limits for the Tendering Process
Article 9.6	Tender Documentation
Article 9.7	Technical Specifications
Article 9.8	Requirements and Conditions for Participating in Procurement
Article 9.9	Tendering Procedures
Article 9.10	Awarding of Contracts
Article 9.11	Information on Contract Awards
Article 9.12	Non-Disclosure of Information
Article 9.13	Ensuring Integrity in Procurement Practices
Article 9.14	Exceptions
Article 9.15	Domestic Review of Supplier Challenges
Article 9.16	Modifications and Rectifications to Coverage
Article 9.17	Definitions
	Annex 9.1: Government Procurement
Chapter Ten	Investment
Section A	Investment
Article 10.1	Scope and Coverage
Article 10.2	Relation to the Other Chapters
Article 10.3	National Treatment
Article 10.4	Most-Favored-Nation Treatment
Article 10.5	Minimum Standard of Treatment
Article 10.6	Treatment in Case of Strife
Article 10.7	Expropriation and Compensation
Article 10.8	Transfers
Article 10.9	Performance Requirements
Article 10.10	Senior Management and Boards of Directors
Article 10.11	Investment and Environment
Article 10.12	Denial of Benefits
Article 10.13	Non-Conforming Measures
Article 10.14	Special Formalities and Information Requirements
Section B	Investor-State Dispute Settlement
Article 10.15	Consultation and Negociation
Article 10.16	Submission of a Claim to Arbitration
Article 10.17	Consent of Each Party to Arbitration
Article 10.18	Conditions and Limitations on Consent of Each Party
Article 10.19	Selection of Arbitrators
Article 10.20	Conduct of the Arbitration
Article 10.21	Transparency of Arbitral Proceedings
Article 10.22	Governing Law
Article 10.23	Interpretation of Annexes
Article 10.24	Expert Reports
Article 10.25	Consolidation
Article 10.26	Awards
Article 10.27	Service Documents
Section C	Additional Provisions and Definitions
Article 10.28	Additional Provisions
Article 10.29	Definitions
Chapter Eleven	Cross-Border Trade In Services
Article 11.1	Scope and Coverage
Article 11.2	National Treatment
Article 11.3	Most-Favored-Nation Treatment
Article 11.4	Market Access
Article 11.5	Local Presence
Article 11.6	Non-Conforming Measures
Article 11.7	Transparency in developing and Applying Regulations
Article 11.8	Domestic Regulation
Article 11.9	Mutual Recognition
Article 11.10	Transfers and Payments
Article 11.11	Denial of Benefits
Article 11.12	Specific Commitments
Article 11.13	Additional Provisions
Article 11.14	Implementation
Article 11.15	Definitions
Chapter Twelve	Financial Services
Article 12.1	Scope and Coverage
Article 12.2	National Treatment
Article 12.3	Most-Favored-Nation Treatment
Article 12.4	Market Access for Financial Institutions
Article 12.5	Cross-Border Trade
Article 12.6	New Financial Services
Article 12.7	Treatment of Certain Information
Article 12.8	Senior Managment and Boards of Directors
Article 12.9	Non-Conforming Measures
Article 12.10	Exceptions
Article 12.11	Transparency
Article 12.12	Self-Regulatory Organizations
Article 12.13	Payment and Clearing Systems
Article 12.14	Domestic Regulations
Article 12.15	Expedited Availability of Insurance Services
Article 12.16	Financial Services Committee
Article 12.17	Consultations
Article 12.18	Dispute Settlement
Article 12.19	Investment Disputes in Financial Services
Article 12.20	Definitions
Chapter Thirteen	Telecommunications
Article13.1	Scope and Coverage
Article 13.2	Access to and Use of Public Telecommunications Services
Article 13.3	Obligations Relating for Suppliers of Public Telecommunications Services
Article 13.4	Additional Obligations Relating to Major Suppliers of Public Telecommunications Services
Article 13.5	Submarine Cable Systems
Article 13.6	Conditions for the Supply of Information Services
Article 13.7	Independent Regulatory Bodies and Government-Owned Telecommunications Suppliers
Article 13.8	Universal Service
Article 13.9	Licenses and Other Authorizations
Article 13.10	Allocation and Use of Scarce Resources
Article 13.11	Enforcement
Article 13.12	Resolution of Domestic Telecommunications Disputes
Article 13.13	Transparency
Article 13.14	Flexibility in the Choice of Technologies
Article 13.15	Forbearance
Article 13.16	Relationship to Other Chapters
Article 13.17	Definitions
Chapter Fourteen	Electronic Commerce
Article 14.1	General
Article 14.2	Electronica Supply of Services
Article 14.3	Digital Products
Article 14.4	Transparency
Article 14.5	Cooperation
Article 14.6	Definitions
Chapter Fifteen	Intellectual Property Rights
Article 15.1	General Provisions
Article 15.2	Trademarks
Article 15.3	Geographical Indications
Article 15.4	Domain Names on the Internet
Article 15.5	Obligations Pertaining to Copyright and Related Rights
Article 15.6	Obligations Pertaining Specifically to Copyright
Article 15.7	Obligations Pertaining Specifically to Related Rights
Article15.8	Protection of Encrypted Program-Carrying Satellite Signals
Article 15.9	Patents
Article 15.10	Measures Related to Certain Regulated Products
Article 15.11	Enforcement of Intellectual Property Rights
Article 15.12	Understandings Regarding Certain Public Health Measures
Article 15.13	Final Provisions
Chapter Sixteen	Labor
Article 16.1	Statement of Shared Commitment
Article 16.2	Fundamental Labor Rights
Article 16.3	Enforcement of Labor Laws
Article 16.4	Procedural Guarantees and Public Awareness
Article 16.5	Institutional Arrangements
Article 16.6	Labor Cooperation and Capacity Building Mechanism
	Annex 16.6: Labor Cooperation and Capacity Building Mechanism
Article 16.7	Coperative Labor Consultations
Article 16.8	Labor Roster
Article 16.9	Definitions
Chapter Seventeen	Environment
Article 17.1	Levels of Protection
Article 17.2	Environmental Agreements
Article 17.3	Enforcement of Environmental Laws
Article 17.4	Procedural Matters
Article 17.5	Voluntary Mechanismos to Enhance Environmental Performance
Article 17.6	Environmental Affairs Council
Article 17.7	Opportunities for Public Participation
Article 17.8	Submissions on Enforcement Matters
Article 17.9	Factual Records and Related Cooperation
Article 17.10	Environmental Cooperation
Article 17.11	Collaborative Environmental Consultations and Panel Procedure
Article 17.12	Environmental Roster
Article 17.13	Relationship to Environmental Agreements
Article 17.14	Definitions
Chapter Eighteen	Transparency
Section A	Transparency
Article 18.1	Contact Points
Article 18.2	Publication
Article 18.3	Notification and Provision of Information
Article 18.4	Administrative Proceedings
Article 18.5	Review and Appeal
Article 18.6	Definitions
Section B	Anti-Corruption
Article 18.7	Statement of Principle
Article 18.8	Anti-Corruption Measures
Article 18.9	Cooperation in International Fora
Article 18.10	Definitions
Chapter Nineteen	Administration of the Agreement and Trade Capacity Building
Section A	Administration of the Agreement
Article 19.1	The Free Trade Commission
Article 19.2	Free Trade Agreement Coordinators
Article 19.3	Administration of Dispute Settlement Proceedings
Section B	Trade Capacity Building
Article 19.4	Committee on Trade Capacity Building
Section C	Trade Security
Chapter Twenty	Dispute Settlement
Section A	Solución de Controversias
Article 20.1	Cooperation
Article 20.2	Scope of application
Article 20.3	Choice of Forum
Article 20.4	Consultations
Article 20.5	Commission- Good Offices, Conciliation, and Mediation
Article 20.6	Request for an Arbitral Panel
Article 20.7	Roster
Article 20.8	Qualification of Panelists
Article 20.9	Panel Selection
Article 20.10	Rules of Procedure
Article 20.11	Role of Experts
Article 20.12	Initial Report
Article 20.13	Final Report
Article 20.14	Implementation of Final Report
Article 20.15	No Implimentation- Suspension of Benefits
Article 20.16	Compliance Review
Article 20.17	Five-Year Review
Section B	Domestic Proceedings and Private Commercial Dispute Settlement
Article 20.18	Referral of matters from Judicial or Administrative Proceedings
Article 20.19	Private Rights
Article 20.20	Alternative Dispute Resolution
Chapter Twenty-One	Exceptions
Article 21.1	General Exceptions
Article 21.2	Essential Security
Article 21.3	Taxation
Article 21.4	Balance of Payments Measures on Trade in Goods
Article 21.5	Disclosure of Information
Article 21.6	Definitions
Chapter Twenty-Two	Final Provisions
Article 22.1	Annexes, Appendices, and Footnotes
Article 22.2	Amendments
Article 22.3	Amendments of the WTO Agreement
Article 22.4	Reservations
Article 22.5	Entry into Force and Termination
Article 22.6	Authentic Texts
SERVICE AND INVESTMENT ANNEXES
	Annex 4.1: Specific Rules of Origin
	Annex I: Non-Conforming Measures for Services and investment
	Formatting Note
	US Annex I
	Panama Annex I
	Annex II: Non-Conforming Measures for Services and Investment
	Formatting Note
	US Annex II
	Panama Annex II
	Annex III: Non-Conforming Measures for Financial Services
	US Annex III
	Panama Annex III
	General Notes and Tariff Schedules
	US General Notes and Appendix I
	US Agricultural Tariff Schedule
	US Industrial & Textile Tariff Schedule
	Panama General Notes and Appendix I
	Panama Agricultural Tariff Schedule
	Panama Industrial & Textile Tariff Schedule
SIDE LETTERS
	Letter on Autos
	Letter on ITA
	Letter on Ship Repairs
	Letter on Panama Free Zones
	Letter on Article 9.15
	Letter on Investment in Specified Sectors
	Letter on Retail Sales
	Letter on Cross-Border Financial Services
	Letter on Insurance
	Letter on Pensions
	Letter on Traditional Knowledge
	Letter on Taxation
Full Text of The Agreement
Source: Office of the United States Trade Representative (USTR)