Panama efficiency up, exports down
(newsroompanama.com) A substantial reduction in paperwork has put Panama third in the region in terms of competitiveness.
The Economic Commission for Latin America put only Chile and Argentina ahead.
But Panama's exports continue to fall, down six percent from January to August.
The commission based its ranking on a study of the logistics available in each country in the region, as well as government regulations.
Only Singapore, Denmark, and Estonia require fewer days on average for the approval of paperwork for imports.
"Each day the approval is delayed amounts to a cost of 1 percent of the total volume of trade," the commission said.
Worldwide, Malaysia and Singapore were judged to be the most competitive countries.
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Original Source: Newsroompanama.com
Date Retrieved: November 21 2010.
