What Is The Zona Libre De Colon?

What are the advantages for companies to buy from the Zona Libre de Colon? It is ideally located in Central America which is an entry point to the rest of Latin America and the Caribbean. It is considered to be the crossroads of the world thanks to the Panama Canal. The Republic of Panama also enjoys economic stability thanks to the use of the US dollar as its legal tender which fluctuates less than other currencies in the region. A large banking center, a strong insurance industry and high tech ports also contribute to the success of this zone.

* Second largest Tax Free Zone in the world after Hong Kong

*Largest free zone on the American continent

* 450 hectares

* 300,000 buyers yearly

*300 000 buyers every years

*Over 25 000 employees

Imports into the Zona Libre de Colon come mainly from the Far East. The largest individual supplier of the Colon Free Zone in 2004 was Hong Kong (China) followed by Taiwan, United States, Japan, Korea, France, Mexico, Italy, Puerto Rico, Switzerland, United Kingdom, Malaysia and Germany. These countries supplied nearly 87 percent of all Colon Free Zone imports in 2004.

Colombia is the largest buyer of merchandise, purchasing nearly 16 percent of all Colon Free Zone exports. Other important buyers come from Venezuela, Panama (domestic market), Guatemala, Ecuador, Costa Rica, Dominican Republic, the United States, Chile, Cuba, Honduras, Peru, Brazil, Nicaragua and El Salvador. These countries buy approximately 83% of all exports from the Colon Free Zone.

The Zona Libre de Colon attracts more buyers thanks to its close proximity to the Panama Canal. Over 12,000 vessels cross the Panama Canal every year. With the expansion of the Canal planned to be finished by 2014, this traffic will surely increase. Several warehouse and logistic projects are planned for the next 5 years allowing the Zona Libre de Colon to grow.

By: joshadekane1

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Ariel Dess specializes in assisting companies successfully import and export with Latin America. To access to his valuable resources, tips and links, click here sales lead