By Marijulia Pujol Lloyd
At the moment of concern over a serious drop in sales, the administration of the Colon Free Zone (CFZ) has put restrictions on the hours that taxis and mini buses can enter the area.
This is causing discontent among drivers dedicated to tourism, who feel that they are providing the service their clients demand.
Now they have to drop their passengers – who are free zone buyers – [...]
The Colon Free Zone (CFZ) is still in the middle of a financial crisis as the payment problems with Venezuela continue and the Colombian government does not appear to be willing to derogate the Cabinet Decree that put high taxes on textiles and shoes coming from Panama. The combination of exports to Colombia and Venezuela represents 25% of all the sales made by the free zone.
The CFZ former deputy manager, Manuel Grimaldo said that [...]
It’s been three weeks since Panamanian president, Ricardo Martinelli, visited his Venezuelan counterpart Nicolas Maduro, to find a solution to the debt owed by Venezuelan businessmen to Colon Free Zone (CFZ) merchants.
However, members of the Colon Free Zone Users’ Association (AU) have yet to receive an official report of what was negotiated. Nor do they know how the bilateral economic commission will work that is to address the debt.
“We have no new developments. [...]
Panama’s maritime and logistics conglomerate grouping the Canal, ports and the Colon Free Zone has had a dismal performance in the first months of this year and experts predict that 2013 will close with negative numbers.
The Panama Canal is facing a slowdown in transits that has led to a record fall to the order of 4% in this fiscal year, 2013. The administrator of the waterway, Jorge Quijano acknowledged that the economy of Europe [...]
The Colon Free Zone Users’ Association held elections on June 25 for its Board of Directors for the 2013-2014 periods.
Lic. Luis Germán Gómez Giraldo of Even Keel Shipping Company, S.A. was elected President; 1st Vice President, Lic. Marco Tellez of King Cargo, Inc. and 2nd Vice-president Victor Valdivieso, of Supro World SA.
On the same ticket were:
Secretary Luis Carlos Chen of Vanities Zona Libre, SA; Under Secretary Samir Elbros of Elneser Int, SA; [...]
Colon Free Zone is struggling
Panama is currently evaluating Colombia’s policies with regards to the tariff imposed by that country on textiles and shoes imported from the Colon Free Zone.
The Chief Negotiator for International Trade of the Ministry of Commerce and Industry, Alexis Pineda, said the Panamanian government has taken the matter to the World Trade Organization (WTO) not to create controversy, but to find out in this forum the reasons for these policies.
Colombian tariff policies jeopardize Colon Free Zone
The free trade agreement negotiations between Panama and Colombia hit another hurdle over the South American country’s tariff policies on textiles, clothes and shoes of Asian origin exported from Panama.
This has badly affected the Colon Free Zone (CFZ).
According to the Colon Free Zone Users’ Association the situation is very delicate because around 20 percent of the trade there depends on the business transactions with Colombia and [...]