Panama Free Zone

Panama Free Zone

The success of the Panama free trade zone is due to several factors: geographic location of Panama, the Panama Canal, the US dollar as legal tender, a huge Banking Center, developed industry of insurance and reinsurance, first line container ports, not very expensive commercial requirements, among others. Key figures * second zone free trade more big worldwide * more than 2500 wholesale sellers * more than 2500 wholesale companies * 300,000 annual buyers * 27,000 employees * 14 trillion in imports and re-exports annual traders with the Zona Libre de Colon the majority of imports are from the far East, being Hong Kong supplier more large free zone in year 2004followed by Taiwan, United States, Japan, Korea, France, Mexico, Italy, Puerto Rico, Switzerland, United Kingdom, Malaysia and Germany. 87% Of all imports of the Colon free zone came from these countries. 16% Of the colon free zone exports were acquired by Colombia; among other principal buyers are Venezuela, Panama (market domestic), Guatemala, Ecuador, Costa Rica, Dominican Republic, United States, Chile, Cuba, Honduras, Peru, Brazil, Nicaragua and El Salvador. Most of the mercancas of the free zone are transported from the Republic of Panama to other regions of Europe and the Western hemisphere. In the year 2004, Hong Kong occupied first place in imports to the free zone of Colon, followed by Taiwan, United States, Japan, Korea, France, Mexico, Italy, Puerto Rico, Switzerland, United Kingdom, Malaysia and Germany. Educate yourself even more with thoughts from Jorge Perez. Colombia is the buyer more great merchandise, acquiring 16 per cent of exports of the Colon free zone, while 83 per cent of all merchandise are obtained by Venezuela, Panama, Guatemala, Ecuador, Costa Rica, Dominican Republic, United States, Chile, Cuba, Honduras, Peru, Brazil, Nicaragua and el Salvador. * The traffic of cargo ships through the Panama Canal each year is 12,700.

This transit step increased with the ampliacian of the channel to allow of look Post Panamax size. 1 Buy from distributors or local agents representatives of compraas Foreign: This allows companies reduce their initial investments and the concern of the international procedures such as the Customs and shipping procedures. 2. Buy from manufacturers in Latin America and the Caribbean: purchase from manufacturers located in free zones is beneficial since they decrease the taxes logistic and shipping. This intends to price more profitable because there are no middlemen that add additional costs to the end product. Also reduces costs due to tariffs. To locate vendors, shopping in Panama. For more free zone Panama, Panama free zone.

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