Aviation Agreement Aruba and Panama
By Anika in Business opportunities, Free Zone Aruba News, Members on 22. Sep, 2015No Comments
Airlines from Aruba and Panama can now execute unlimited flights, over and into each other’s territory. That is the purpose of the new aviation agreement with Panama that was recently approved by The Dutch Government.
After years of negotiation Aruba and Panama signed the agreement to regulate air transport between both territories. In 1987, the first administrative agreement was signed by the aviation authorities of Aruba and Panama. These agreements are replaced by the new treaty.
The aviation agreement includes the rights for overflights and technical landings, and to maintain the scheduled air services of both territories. There is no limit in the number of companies that are allowed to use this right, nor the number of flights. However, both countries have the right to grant (or revoke) operating licenses when certain requirements are (not) met.
The agreement regulates the procedures and processes if Aruba or Panama has concerns about the safety and security standards of the other party. Both parties retain the right to suspend or terminate the operations of an airline in their territories.
The agreement contains rules and regulations about business opportunities (including sales and marketing of international air services), including the establishment of offices in the territory of the other Party. Each designated airline retains the right to its own ground handling, or make a choice between competing service providers to fully or partly do ground handling. Also, currency conversion, remittance of income, and the possibility of partnerships are regulated in the agreement.
The two governments can grant full exemption from import restrictions, taxes on goods and capital, customs duties, excise duties and similar levies and fees to the designated airlines. This exemption also includes the reciprocal use of stocks, outbound flights, ground equipment, spare parts, fuel, lubricants and consumable technical supplies, as well as advertising and promotional material. To increase the airline’s commercial potential, user charges, fair competition and rate settings are regulated in the agreement.
Source: Antilliaans Dagblad