Colon Free Trade Zone is the largest free zone in the Americas and the second largest in the world after Hong Kong. Created in 1948, the free zone houses over 2500 wholesalers, receives yearly more than 300,000 buyers from all parts of the World, mainly from countries such as Haiti, Jamaica, Costa Rica, Venezuela, Colombia, United States, Ecuador, and others. The Colon Free Zone generates USD $14 billion in imports and reexports each year.
Wholesalers are eager to discover new sellers and products
The Colon Free Zone success is due to a combination of factors such as the geographical location of Panama at the crossroads of the world, the hub to Latin America, the Panama Canal, the fact that the US dollar is legal tender, a large banking center on its doorstep, a developed insurance and reinsurance industry, several state-of-the-art container ports and not very onerous business requirements
Which countries are trading with the Colon Free Zone?
These countries supplied nearly 87 percent of all Colon Free Zone imports in 2004
These countries buy approximately 83% of all exports from the Colon Free Zone.
Panama Canal and logistic services
The Colon Free Zone benefits from its exceptional location close to the Panama Canal.
Every year over 12,700 cargo vessels cross the Panama Canal. This traffic will increase with the project of extension of the Panama Canal that will allow Post Panamax vessels to cross the Canal.
With wide warehouses and logistics solutions the companies based in the Free Zone also offer a wide range of logistic and freight services which support the intense commercial activity of the Free Zone.
New developments projects of warehouses and logistics facilities will occur within the next 5 years allowing the trading in the Free Zone to grow efficiently.