Colon Free Zone

Maritime link forges trade between Panama and China

China es el más importante proveedor de mercancías de la Zona Libre

China has become the second largest customer of the Panama Canal, opening the gateway to the Asian market for Panamanian products.

Trade between China and Panama is 99% in favor of Chinese sales in the Panamanian market, while Panama’s exports total about $40 million, said Wang Jian, deputy representative of the Office of Business Development of China in Panama, speaking to Elpais.com.

Panama has no diplomatic relations with China and remains a strategic partner of [...]

Colón Free Zone attentive to the Venezuelan crisis

The current conflict facing Venezuela worries the Colon Free Zone (CFZ), as this may delay the collection of debts that are still pending.

Walter Brunetti, a financial analyst, said: “The recent events in the country and the complicit silence of many trading partners, creates the fear, not only of fracturing existing businesses and those in the future, but also conveys the feeling of fear for natural uncollectibles that are already pending.

Colombia and Venezuela should honor the debt with the Free Zone, CONEP

Many businesses are suffering because they cannot collect the money owed by Colombia and Venezuela

Representatives of the National Council of Private Enterprise (CONEP) met with the Minister of the Presidency, Roberto Henriquez, to continue the dialogue initiated in November aimed at analyzing and solving international economic commitments with the Colon Free Zone.

CONEP businessmen discussed debts of Venezuela and Colombia with the free zone and the expectations that have been generated that the two South American nations honor their commitments.

Similarly, delegates from local banks and other sectors involved, [...]

Panama analyzes retaliation against Colombia’s tariffs

The Panamanian government could implement measures against Colombia for the extension of tariffs on goods re-exported from the Colon Free Zone.

Roberto Henríquez, Minister of the Presidency of Panama confirmed that measures against Colombia are being analyzed for extending the period of applying tariffs to re-exports of shoes and clothing from the Colon Free Zone (CFZ).

“We have been hit so badly by this action of the Government of Colombia that in Panama there is [...]

When sales are down restrict buyer mobility

When sales are down restrict buyer mobility

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 – [...]

CFZ “about to collapse”

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 [...]

Free Zone still waiting for Venezuelan payments

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. [...]