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Free Trade Zone in Colón: Sales Growth Numbers, Logistical Expansion, Improvement Projects, Promotions, etc.


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Better Numbers for the Colon Free Zone

In the first quarter of 2018, commercial activity in the free zone generated $5.292 billion, 11% more than was recorded in the same period in 2017.

Thursday, May 3, 2018

According to figures from the Colon Free Zone (ZLC), from January to March of 2018 imports totaled $2.427 billion and re-exports amounted to $2.866 billion, which exceeds by 8% and 14%, respectively, what was registered in the first quarter of 2017.

After the fall registered in commercial activity between the first quarters of the years 2015 and 2016, in the last two years there has been sustained growth for the periods in question.

Regarding the reported increase, Manuel Grimaldo, general manager of ZLC, told Laprensa.com that "... Sales improved because merchants are learning to diversify their merchandise and for our part we are advocating promotion fairs. "

In relation to what the FTA has planned for 2018, he added that "...'This year we have 21 fairs scheduled and a business conference in Santo Domingo, in the Dominican Republic. The interest of this administration is in strengthening existing markets and rebounding where we have potential.'"

 

https://www.centralamericadata.com/en/article/main/Better_Numbers_for_the_Colon_Free_Zone

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Panama will use mobile app to accelerate freight movement in Colón free zone

Sun, 05/13/2018 - 19:00

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The Colón Free Zone, the main free port of America, will use a mobile app to speed up the freight movement, informed the director of Commercial Operations of that complex, Damaris Blanquicet.

A statement from the administration of the Colón Free Zone, on the shores of the Panamanian Caribbean Sea and next to the Panama Canal, states that the mobile app seeks to "improve the quality and efficiency of the service provided".

The Panamanian free port carries out import and re-export transactions annually for some 13,000 million dollars, according to official sources.

According to the official, the implementation of the new app - on unspecified date - in the commercial area will accelerate the movement of the containers and vans of the Free Zone by shortening the time within the area, allowing verification to be carried out at time of departure and in less than two hours.

The current duration time of the process is unspecified.

"With this new app the verifier will examine that all the documentation is complete (form number, form type, type of container, driver identification, transport company, pass number, date of entry and exit of the area, etc.) , and thus obtain the exit stamp," said Blanquicet.

According to the official, the app will help "avoid duplicity in documents, the transfer of the driver to the building (of the administration) to complete the information and the corresponding numbering in order to avoid falsification".

"By scanning the bar code, all the general information of the ship will be released instantly and there on the site, all the details provided will be corroborated," she added.

Every day –she said- the verifiers of the Colón Free Zone serve from 500 to 700 containers 24 hours a day; and with this new system the times of freight verification are reduced and it would suppose an increase in the productivity of the user companies.

In the Panamanian free port there are around 3,000 businesses engaged in re-export, mainly to the rest of Latin America and the Caribbean.

 

http://www.panamatoday.com/economy/panama-will-use-mobile-app-accelerate-freight-movement-colon-free-zone-6841

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Shanghai Delegation will present projects to the Panama Free Zone in July

Fri, 05/18/2018 - 15:54

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A trade mission from the city of Shanghai (eastern China) will visit the Colón Free Zone (ZLC) in July, the largest in the hemisphere, to propose projects to establish user or represented companies, confirmed the administration of the commercial emporium.

The General Director of the Office of Foreign Affairs of the Shanghai Municipality, Zhang Xiaosong, along with another Asian delegation expressed that he sees insurance taking advantage of the logistics that the center offers free of tax for Chinese companies to establish.

For this reason, the manager of the ZLC, Manuel Grimaldo explained to the executives the tax benefits and logistical connections with the ports, airport, railroad and land routes that the commercial area has free of tax.

“They confirmed a new visit for next July and the bringing back of more concrete proposals after this meeting,” said the Panamanian representative.

Grimaldo added that it is important to take advantage of the opening of diplomatic relations with China, given the fact that they are one of the main users of the free zone, which may expand business relations with Panama.

After the establishment of diplomatic relations last June, to the detriment of Taiwan, expectations about the arrival of large Chinese investments have skyrocketed in the Central American country.

China is one of the main partners of the free zone, only the first quarter of 2018 represented an accumulated commercial movement of 813.1 million dollars with a participation of 24 percent of the total economic flow in the free zone.

At the end of April of this year, the activity of the most important emporium in the Central American country closed with 1,922.1 million dollars, representing an increase in terms of value of 390.5 million dollars more than what was perceived in April 2017, which was 1,531.6 million dollars.

The commercial activity (imports and re-exports) of the ZLC for the year 2017 was for 19,713.1 million dollars, registering a growth of 0.3 percent compared to 2016, which totaled 19,655.8 million.

The ZLC is the largest merchandise distribution center in the hemisphere. This commercial emporium, located in the Caribbean province of Colón, was founded in 1952.

It currently houses more than 2,260 companies in 1,075 hectares and it also generates 25,000 direct jobs, according to government data and its User Association.

 

http://www.panamatoday.com/economy/shanghai-delegation-will-present-projects-panama-free-zone-july-6872

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Activity in the main American free zone in Panama increased by almost 14%

Wed, 05/30/2018 - 19:07

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The activity of the Colón Free Zone (ZLC), considered the largest in the Americas and located in the Panamanian Caribbean, increased by 13.7 percent during the first quarter of the year to reach 7,164 million dollars, informed official sources.

The general manager of the ZLC, Manuel Grimaldo, said at a press conference that just in the month of April there was a commercial movement of 1,922 million dollars, representing an increase of 25.5 percent compared to the same month from the previous year.

"The Colon Free Zone is gradually rising (...) The current numbers are telling us that if the free zone continues in these conditions it is very likely that we will end 2018 over the 21,000-million-dollar mark", assured the administrator.

The ZLC, where 3,000 re-export companies operate, went through a severe crisis in 2015, when its revenues fell almost 8 percent that year alone, mainly due to the economic situation in Venezuela, to the tariffs that Colombia applies to the re-exports of some products and the revaluation of the dollar.

The commercial platform closed 2017 with a movement of 19,713 million dollars, 0.3 percent more than what was registered in 2016, according to official data.

Grimaldo explained that the recovery is due to a better management of this regional center of merchandise distribution and "to the fact that our businessmen have looked for other alternative markets" that fill in the fall of Venezuela and Colombia, among other causes.

China, with whom Panama established diplomatic relations a year ago, is one of the main partners of the business empire and accounted for 24 percent of the entire commercial movement during the first quarter of the year.

Both countries will also begin to negotiate a Free Trade Agreement (FTA) from the first half of July, which generates great expectations in Panama and which, in the opinion of the official, is "a great business opportunity" for the ZLC.

"The new silk route (a commercial route that China wants to develop) begins in the ZLC, because of our geographical position we can reach any destination much faster and in a cheaper way than any other country," he admitted.

Grimaldo also recalled that there are already several Chinese companies in the logistics industry that have settled in the ZLC and that in recent months his team has had "many approaches" with large companies in the Asian country.

The ZLC is located a few kilometers from the Atlantic entrance of the Panama Canal and more than 25,000 people work there.

 

http://www.panamatoday.com/economy/activity-main-american-free-zone-panama-increased-almost-14-6960

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Some 25 companies of Costa Rica will seek alliance with Colón Free Zone Panama

Wed, 06/13/2018 - 20:24

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At least 25 companies from Costa Rica will attend a meeting agreed with the Colón Free Zone (ZLC), considered the largest in the American continent and located in the Panamanian Caribbean, to settle in this Panamanian commercial emporium, informed an official source today.

The activity will take place in a hotel in the Costa Rican capital, San José, tomorrow and next Friday, at the initiative of the manager of the free zone, Manuel Grimaldo, who in view of the growing economy of the neighboring country and trade, sees fit to hold a meeting to find more partners of the ZLC.

"The objective of this approach with businessmen is to offer them the interesting credit facilities of the FTA for buyers and the significant benefits to be established in the area, either as a Company or Representative," said a statement from the Panamanian commercial entity.

Currently, Costa Rica grows at a rate of 3.8 percent and remains the fifth commercial partner of Panamanian exports of the national economy, accounting for 5.3 percent of them.

According to data from the free trade zone, the commercial dynamics of imports of Costa Rica from Panama were dominated by pharmaceutical products, machines and electrical recording devices. Only the first quarter of 2018 imports via ZLC reached 3.4 million and re-exports 168.3 million dollars.

Meanwhile, in 2017 the total re-exports of FTZ to Costa Rica reached 701.5 million dollars and imports totaled 27.9 million dollars.

"As a Central American country, we are very motivated to further strengthen business ties with Costa Rica and evaluate the possibility of developing annual forums where both entities promote their strengths to commercial sectors in Panama and Costa Rica," said Grimaldo.

The manager of the tax-free area, which brings together 2,649 companies and generates 21,000 jobs, has an aggressive agenda of trade missions to Costa Rica, Guatemala, El Salvador, the Dominican Republic, the Caribbean and South America, with which he expects to have positive results for the end of 2018, said the entity.

The trading platform closed 2017 with a movement of 19,713 million dollars (imports plus re-exports), 0.3 percent more than what registered in 2016, according to official data.

 

http://www.panamatoday.com/panama/some-25-companies-costa-rica-will-seek-alliance-colon-free-zone-panama-7060

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Tax Exemption on Imports in Colon

In Panama, was approved a new law that extends the scope of the Special Free Port System for the province of Colon, through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.

Tuesday, October 30, 2018

From the statement of the National Assembly:

In the third debate, the National Assembly approved the optimization of the Special Free Port System for the province of Colón (SEPLC) through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.

Project 684 amends Law 29 of 1992, which was created by SEPLC, in such a way that these goods are exempt from import duties or taxes, from the tax on the transfer of movable tangible goods and the provision of services, as well as from the selective consumption tax (lSC) and may only be imported into the national fiscal territory.

The proposal allows tax credits to be granted as an incentive to strengthen the commercial investment in the sixteen (16) streets of the city of Colon and Colon 2000.

Through these regulations, a special fiscal and customs system is established with a Free Port structure applicable to the territory of the province of Colon, especially the Island of Manzanillo, except for the areas subject to the Free Zone.

Such tax credit shall be used exclusively by the respective taxpayer for the payment of import taxes, up to a maximum term of three hundred and sixty-five calendar days counted from the date on which the respective document is approved.

 

https://www.centralamericadata.com/en/article/main/Tax_Exemption_on_Imports_in_Colon

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Colon Free Zone activity up 9.5%  but small shops struggle

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Commercial activity in the Colon Free Zone (ZLC), including imports and re-exports in the first 11 months of the year rose 9.5%  over the same period last year to $19. 641 billion

Although the ZLC  reports a sustained increase in re-exports and imports, the boom is only seen in companies in the pharmaceutical, telecommunications and technology sectors, warn businessmen from the customs area in Colón.

The small shops that traditionally sell household items, household utensils, plates, chairs, plastic, building materials, hardware, and perfumery, among others, are struggling to survive, say the entrepreneurs.

Puerto Rico, the United States, Panama, Colombia, Costa Rica, and the Dominican Republic are the main destinations for re-exports of the ZLC.

However, the weight in cargo movement contracted 1.7% in the period analyzed. Between January and November of 2018, the commercial empire moved 1.563 billion metric tons in merchandise, 27 million metric tons less than those registered in the first 11 months of 2017.

 

https://www.newsroompanama.com/business/colon-free-zone-activity-up-9-5-but-small-shops-struggle

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Companies from the main American Free Zone urge to recover "attractive"

Thu, 01/03/2019 - 15:09

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The businessmen of the Colon Free Zone (CFZ), considered the largest free zone in the Americas and located in the Panamanian Caribbean, today asked the Government to result from the elections next May that hears the "clamor" of the business community and return the "attractive" to the commercial enclave.

"Today more than ever, when Panama's economy slows down, it is urgent to recover the commercial boom, for which we reiterate that clearer laws are required that do not allow stoppages and strikes that affect the movement of cargo, modernize operations and renew the infrastructure of the area", said the Association of Users of the Colon Free Zone (AUCFZ).

The businessmen indicated in a statement that "it is essential to make a round of negotiations with all the client countries of the CFZ so that they recognize the certificate of origin of our cargo, which is the main impediment to doing business with the region".

The free zone, which is located a few meters from the Atlantic entrance of the Panama Canal, employs more than 25,000 people and there operate about 3,000 companies engaged in re-export.

The commercial emporium went through a severe crisis in 2015, when its revenues fell almost 8 percent, mainly due to the economic situation in Venezuela, to the tariffs that Colombia applies to the re-exports of some products and to the revaluation of the dollar.

The commercial platform closed 2017 with a movement of 19,713 million dollars, 0.3 percent more than that registered in 2016, while between January and November 2018 its commercial activity increased 9.7 percent with respect to the previous period, according to official data.

"This percentage of recovery reflects only the slow commercial movement of certain items, so it does not permeate the economy of the country as in previous years, high-tech products, pharmaceutical and logistics businesses are those that recover slowly, the rest is not replenished", they added.

The businessmen also called for the "internal as well as external" attacks to cease, because saying that the CFZ is a place that promotes illicit trade "reduces" the activity.

On May 5, 2019, Panama will hold general elections and renew all positions of popular election, including those of president and vice president, deputies of the National Assembly, deputies of the Central American Parliament (Parlacen), mayors and representatives of corregimiento.

 

https://www.panamatoday.com/economy/companies-main-american-free-zone-urge-recover-attractive-8847

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Activity in the main free zone of America increased by 6.5% in 2018

Wed, 02/20/2019 - 15:55

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The commercial activity in the Colon Free Zone (CFZ), located in the Panamanian Caribbean and considered the largest in the continent, reached 20,931 million dollars in 2018, representing a 6.5% increase compared to the previous year, the commercial emporium reported Tuesday.

Imports registered an increase of 7% compared to the data of 2017 and stood at 9.855 million dollars, while re-exports grew from 6.2% to 11.076 billion dollars.

The data was revealed on Tuesday during a ceremony in which it was announced the creation of a working group to recover the attractiveness of the free zone, integrated by the management of the commercial emporium -which depends on the central government-, the merchants themselves and the Logistics Business Council (LBC).

The free trade zone, which is located a few meters from the Atlantic entrance of the Panama Canal and is the second largest in the world after Hong Kong (China), employs more than 25,000 people and keeps about 3,000 companies dedicated to re-export

The commercial emporium went through a severe crisis in 2015, when its revenues fell by almost 8%, mainly due to the economic situation in Venezuela, to the tariffs that Colombia applies to the re-exports of some products and to the revaluation of the dollar.

China, with whom Panama established diplomatic relations in June 2017 and negotiates a free trade agreement (FTA), is the largest supplier in the Panamanian free trade zone, where the Chinese giant Huawei also has one of its global distribution centers.

The Chinese multinational Hikvision, considered the world's largest manufacturer of video surveillance equipment, also announced this month that it will soon move its distribution center for Latin America from Miami (USA) to Colon.

 

https://www.panamatoday.com/economy/activity-main-free-zone-america-increased-65-2018-9313

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Colombia wants to "steal" business from free zones, says Panamanian entrepreneurs

Thu, 02/21/2019 - 15:26

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By María M. Mur

Colombia has no "interest" in resolving the tariff dispute it has with Panama because it wants to strengthen its free zones and "steal" the business, said to Acan-Efe the president of the entrepreneurs of the largest tax-free zone in America, located in the Panamanian Caribbean.

"They want to steal our business and strengthen their free zones in Cartagena, Santa Marta and Buenaventura", said Daniel Rojas on Thursday, for whom Panama should have shown more "audacity" to implement measures of reciprocity.

The conflict dates back to 2012, when Colombia began to apply 10% tariffs on footwear and textiles from the Colón Free Zone (CFZ) under the pretext of combating illicit trade.

The dispute has gone through several stages, including a ruling by the World Trade Organization (WTO) in favor of Panama that forced Colombia to suspend that tariff in 2016.

Colombia eliminated that rate but approved several measures that toughen customs controls and, according to the Panamanian authorities, similarly hinder trade with the free zone, where 3,000 companies engaged in re-export operate and employ about 18,000 people.

"Colombia has been very well received here, we love their citizens very much, but their governments are not doing well and we have to tell them that it is enough, that Panama is as important as them and that we must respect each other", Rojas urged.

The businessman described as "unfair" to say that all merchants promote smuggling, counterfeiting or money laundering, and said they have been striving for years to promote transparency, especially after the approval in 2015 of Law 23, known as "Antiblanking Law".

"We want to send a very clear message: we are here and we are doing things right", he added.

The authorities of both countries have established negotiations in recent years to try to solve the dispute, but so far have not been successful.

The presidents of Panama, Juan Carlos Varela, and Colombia, Iván Duque, agreed last September in the Panamanian capital to continue working to reach an agreement "as soon as possible". It is expected that both leaders will meet again on March 19 in Bogotá.

Colombia is one of the main customers of the FTA, which is located next to the Atlantic entrance of the Panama Canal and represents 8.5% of local GDP.

The enclave went through a severe crisis between 2013 and 2016, when its revenues fell more than 12%, mainly due to Colombian tariffs and the situation in Venezuela, another of its large buyers.

The numbers of the free zone, the second largest in the world after Hong Kong (China), have been recovering since then. In 2018, the commercial movement reached 20,931 million dollars, 6.5% more than in 2017.

For Rojas, the growth is "insufficient" and affects exclusively certain sectors, such as pharmaceutical multinationals or technological giants, while traditional businesses (textiles, footwear, perfumes) are still in crisis.

Beyond the "conjunctural" problems with Colombia and Venezuela, the merchant said that the recovery of the free zone requires modernization and greater state investment in infrastructure.

"If we do not give them the tools so that the entrepreneur can move their cargo in an agile, transparent and traceable way, we will be left behind, Colombia is already doing it, we continue working as in the last century", he warned.

In addition to the bilateral tension, the tariff dispute has caused Panama to suspend the ratification of a free trade agreement (FTA) with Colombia, signed in 2013.

 

https://www.panamatoday.com/economy/colombia-wants-steal-business-free-zones-says-panamanian-entrepreneurs-9327

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Colón, the largest free zone in America, it's been recovered at two speeds

Thu, 02/21/2019 - 10:43

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María M. Mur

The main free trade zone in the Americas, located in the Panamanian Caribbean, recovers at two speeds from the serious crisis that it suffered five years ago: while the pharmaceutical and technological industries are in full swing, textiles and perfumeries barely get off the ground.

Leaning on an electric pole, Edgar Acevedo waits to see if any of the few customers who wander through the so-called "Street of textiles", years ago a hotbed of people and in which today are the posters of "Local for rent", needs a transport of merchandise.

"I used to fill seven containers a month, now it takes up to two months to complete one", acknowledged to Acan-Efe the Panamanian transporter, who has been shipping cargo, especially to Venezuela, for more than two decades.

The Colón Free Zone (CFZ), which is the second largest tax free zone in the world after Hong Kong (China) and represents 8.5% of Panamanian gross domestic product (GDP), went through a severe crisis between 2013 and 2016, when their income fell more than 12%.

Among the main causes of the decline are the revaluation of the dollar, the economic situation of Venezuela -one of its main customers- and the tariffs that Colombia has applied since 2012 to the re-exports of some textiles and footwear.

Venezuela remains mired in an unprecedented economic meltdown and the tariff dispute with Colombia has no sign of being solved in the short term, but the figures of the commercial emporium have gone back.

The free trade zone, where more than 3,000 companies are engaged in re-export and employ about 18,000 people, registered a commercial movement last year of 20,931 million dollars, representing an increase of 6.5% over 2017.

For Nessim Hafeitz, owner of a fabric store, the numbers "sound nice", but do not represent all merchants. "I just liquidated two million dollars in obsolete merchandise", he lamented in statements to Acan-Efe.

The accounts also do not fit Francis Sánchez, who has begun selling retail handbags from China that previously offered wholesale and now barely placed.

The Asian giant, with whom Panama established diplomatic relations in 2017, is the main supplier of the commercial enclave.

"Lately only save us the tourists who come on Fridays on the cruise ships", said Eliana Gómez, manager of a shoe store, who was severely punished for the restrictions that Colombia imposes on these products with the excuse of combating illicit trade.

Behind the rebound of the free zone, which is located a few meters from the Atlantic entrance of the Panama Canal, are large pharmaceutical companies like the German Bayer or technological giants such as the Chinese Huawei, which has one of its six distribution centers in Panama.

The Chinese multinational Hikvision, considered the world's largest manufacturer of video surveillance equipment, also announced this month that it will soon move its distribution center for Latin America from Miami (USA) to Colón.

 

https://www.panamatoday.com/economy/colon-largest-free-zone-america-its-been-recovered-two-speeds-9322

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Colon Free Zone Focuses on the Caribbean

Faced with the decline in commercial activity in the Panamanian Free Trade Zone, its directors are looking for new business opportunities in markets in the Caribbean.

Friday, December 13, 2019

In the first seven months of 2019, commercial activity in the Colon Free Zone (ZLC) totaled $10.782 million, 14% less than in the same period in 2018. Imports totaled $5.224 million, and re-exports totaled $5.557 million, decreasing by 12% and 16% compared to the same period in 2018, respectively.

This situation, which has been registered for years, has forced the leaders of ZLC to look for new options.

Giovanni Ferrari, ZLC manager, told Panamaamerica.com.pa that "... The Caribbean represents a high per capita gross domestic product compared to the countries of the region. In the Free Zone, we continue to work hard to find those market openings in which they are suppliers and buyers."

According to Ferrari, in order to achieve more business in the Caribbean, conversations have begun with representatives of those markets and commercial missions are already being planned.
 

Source: Panamaamerica.com.pa

 

https://www.centralamericadata.com/en/article/main/Colon_Free_Zone_Focuses_on_the_Caribbean

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Activity in the Colon Free Zone Falls 10% in 2019

Last year the commercial activity of the Panamanian Free Zone totaled $18,469 million, 10% less than what was reported in 2018.

Wednesday, February 26, 2020

From January to December 2019 imports in the Colon Free Zone (CFZ) totaled $8,655 million, and re-exports totaled $9,814 million, decreasing by 11% and 9% compared to the same period in 2018, respectively.

Regarding figures reported in December last year, a report of the General Comptroller of the Republic states that the value traded reached $ 1,391 million, 6% more compared to the same month in 2018.

In the case of re-exports recorded in December 2019, these amounted to $783 million, 16% more than reported in the last month of 2018.

See full figures.

 

https://www.centralamericadata.com/en/article/main/Activity_in_the_Colon_Free_Zone_Falls_10_in_2019

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Colon Free Zone ready and willing for  reopening

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Posted 28/05/2020

Workers and businessmen  in the Colon Free Zone have called for the reactivation of commercial activity to alleviate damage caused by COVID-19..

.Daniel Rojas, president of the Colón Free Zone Users Association (AUZLC) said on Wednesday: “We are ready and willing to resume activities in the Free Zone, we know the importance and understand the requests of workers to return to their jobs We also understand and will comply with the protocols required by the Ministry of Health for the reopening of establishments.

"The economic hub located in the Panamanian Caribbean, is an autonomous institution that generates 20,000   direct jobs and that in recent years has contributed about $15 million to the state coffers.

“ However, since 2012 - when it registered a turnover of $30 million - it has marked a gradual decline. As an example in 2019, commercial activity decreased 40.2%. In addition to the above, in the first quarter of this year a drop of 17% was reflected versus 2019, which also marked negative figures.

"We are more than 1,600 companies that urgently require the friendly and supportive hand of the State, to adapt our free zone to the changes that are coming," said Rojas.The AUZLC has delivered vouchers or bonds worth $40 to just over 500 families from different communities in the province of Colón affected by the pandemic. "This is only palliative to the benefits of generating jobs again," said the businessman.

The  Free Zone is ready to continue selling, we have our hub , our position, "said  Rojas. the representative of the ZLC.The National Government conditioned the gradual reopening of the different economic activities through six blocks, beginning on May 13 with the first of which included electronic commerce, mechanical and spare parts workshops, technical services such as plumbers, electricians, maintenance of air conditioning, elevators, pool maintenance, artisanal fishing and industrial aquaculture.The reopening of the Free Zone is located in block 3 with the retail and wholesale trade, car sales, professional and administrative services, construction of private projects are located. But no date has been set.

 

https://www.newsroompanama.com/business/colon-free-zone-ready-and-willing-for-reopening

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ZLC will Hold Virtual Trade Fair

From March 1 to 5, 2021, the Colon Free Zone will hold its first multisector virtual trade fair, in which 200 exhibitors will participate and participants will be able to access product catalogs and receive direct attention from suppliers.

Wednesday, February 24, 2021

The trade fair will feature a wide variety of mass consumption products, regional distribution logistics services and value-added products, informed the Colon Free Zone (CFZ).

According to the organization of the event, there will also be important activities such as the third Business Roundtable of the Colon Free Zone and learn more about this great free zone with the Master Conferences that will take place during the 5 days of the fair.

The official press release states that "... the 3rd Colon Free Zone Business Roundtable, an activity to be held on March 4 in the context of the 1st ZLC Virtual Expo, will feature 100 companies from the free zone that will be available for 15-minute business appointments previously scheduled, with buyers who have duly registered."

"Likewise, in the context of the virtual fair, you will be able to see nine (9) Master Conferences to learn more in depth about the Colon Free Zone as a hub for international trade. These conferences will be in charge of: Giovanni Ferrari, General Manager of the CFZ; Ricardo Cerezo, Legal Advisor of the CFZ; Mario Hoyte, Compliance Officer of the CFZ; Jesús Guevara, Management Advisor of the CFZ; Olgalina de Quijada, Deputy Manager of the CFZ; Yenia Diaz, Director of Commercial Operations of the CFZ; H. E. Carmen Gisela Vergara, Director of ProPanama; Edwin Chen, businessman and President of the FTA Users Association; and Dr. Marcelino Caballero, Deputy Director of the Regional Office of the Ministry of Health of Panama," the document states.



Click here for more information.https://www.centralamericadata.com/en/article/main/ZLC_will_Hold_Virtual_Trade_Fair

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Colon Free Zone springs back to life

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Posted 07/09/2021

The Colon Free Zone (ZLC) ended the first half of the year with sales of $8,226 billion.

The figure represents an increase of 26.8% compared to the first half of 2020, but is still below the results of the first half of 2019, when sales amounted to $9.185 billion.

Last year, commercial activity in the free zone remained at minimum levels due to the mobility restrictions implemented by the Government to combat the spread of the Covid-19 disease.

Giovanni Ferrari , manager of the ZLC, acknowledged that the free zone is immersed in a process of recovery, but the activity is still somewhat distant from the data prior to the pandemic.

https://www.newsroompanama.com/business/colon-free-zone-springs-back-to-life

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Upward trend at Colon Free trade Zone

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Posted 20/11/2021

The commercial movement of the Colon Free Zone (ZLC) continues an upward trend, reaching $13,144 billion between January and September.

The figure represents a decrease of 4.8% compared to the data for the same period of 2019, but according to analysts, it is a sign that the free zone has closed the gap caused by the stoppage due to the Covid-19) pandemic.

In 2020, the second-largest commercial area in the world closed with a 20% drop compared to the previous year.

According to the monthly report, the ZLC registered transactions in September of$ 1,793 billion, a positive difference of 11.3% compared to the previous month and an increase of 50% in relation to the activity of September of last year.

Of the total accumulated until September, $6,317 billion relate to imports, $6,826 billion to re-imports.

In the area of imports for January-September 2021, 659.4 thousand metric tons were mobilized, representing an increase of 34.3%.

Re-exports registered a movement of accumulated cargo of 569.5 thousand metric tons, reflecting an increase of 29.1%, compared to the same period of 2020. China is the main supplier of the companies that operate in the ZLC, followed by the United States, Mexico, and Hong Kong; while Costa Rica, Guatemala, Colombia, Venezuela and Honduras are the main destinations for re-exports.

 

https://www.newsroompanama.com/business/free-zone-upward-trend-closes-pandemic-gap-1

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Activity in Colon Free Zone near pre-pandemic levels

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Posted 22/12/2021

The Colon Free Zone reported transactions of $14.94 billion from January to October this year,  up 27%  from the movement registered in the same period last year.

The second-largest commercial area in the world is close to recovering the movement it registered before the pandemic that kept it paralyzed for over six months last year.

According to a report from the ZLC administration, the commercial movement registered until last October is 4% lower than the number of transactions reported in the first 10 months of 2019, when $15,582 billion were registered.

Edwin Chen, president of the ZLC Users Association, commented that the data recorded to date is positive and reflects a tendency to regain the rhythm that was interrupted by the pandemic.

"The numbers are positive and we are confident that the positive trend will reinforce during 2022, but we must work so that the recovery is the same for all the companies that operate in the ZLC," Chen said.

In the breakdown of the commercial movement, it is observed that China is the main supplier of the companies that operate in the ZLC, followed by the United States, Mexico, and Hong Kong; while Costa Rica, Guatemala, Colombia, Venezuela, and Honduras are the main destinations for re-exports.

The sale of electronic, pharmaceutical, chemical, perfumery, and cosmetic products, clothing in general, common metals, and alcoholic beverages remain among the main drivers of growth in the free zone.

https://www.newsroompanama.com/business/activity-in-colon-free-zone-near-pre-pandemic-levels

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