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Latin Auto Parts Expo 2017 (TFC event) Detailed Event Information For Latin Auto Parts Expo 2017 (TFC event)
Latin Auto Parts Expo 2017 (TFC event) -- Automotive Parts/Services Eq., Automobile/Light Truck/Vans
Location/Date: Panama City, Panama 06/14/2017 - 06/16/2017
Event Summary:
LATIN AMERICAN AUTO PARTS EXPO provides manufacturers and distributors direct access to the Latin American and Caribbean OEM, REPLACEMENT PARTS, AFTERMARKET PARTS, AUTOMOTIVE REMANUFACTURED PARTS, and TUNING markets in a warm and personal setting that forges long lasting commercial and personal relationships.

The market for new automobiles showed substantial growth in 2014, after slower growth in the last previous years. Approximately 60,000 new cars were sold in 2014, resulting in increased demand for automotive parts and service equipment. The automotive inventory in Panama is estimated at over 1,000,000 units. U.S. participation in the automotive parts and service market is significant, with a market share of more than 40%. Main competitors include Japan, Korea, and Taiwan. However, the U.S. market position will improve as sales of U.S. cars increase. Demand will also remain strong for U.S.-made car parts and accessories for Japanese models.

It is important to note that cars are not subject to import duties, regardless of national content of origin. They are, however, subject to a progressive sales tax based on the value of the car. The U.S.–Panama Trade Promotion Agreement (TPA) does not, therefore, give a competitive advantage to U.S.-made cars. But, the TPA does give an advantage to U.S.-made automotive parts, which enter the market duty-free; there are no import restrictions on these products. Sub-sectors offering the best market opportunities are servicing equipment, tubes and tires, and engine parts.


Contacts:
Jeane Zuniga, Panama City
Commercial Specialist
Phone: (507) 317-5392
Jeane.Zuniga@trade.gov
Michael Thompson, Trade Event Programs
International Trade Specialist
Phone: 202-482-0671
Michael.Thompson@trade.gov
Jessica Dulkadir, Trade Event Programs
International Trade Specialist
Phone: 202-482-2026
Jessica.Dulkadir@trade.gov
Linda Bassit, Latin Amer Parts Expo,

Phone: 786-293-5186
linda@latintyreexpo.com

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