APEDE calls for free zone equality

The Panamanian Association of Business Executives (APEDE) Issued the following statement in solidarity with Colon Free Zone businessmen recommending that all free zones in Panama operate on a level playing field.

However, President Juan Carlos Varela continues to claim that this would not solve the problem of the Colon Free Zone, which has lost its competitiveness.

“The Panamanian Association of Business Executives (APEDE) joins the concern of several sectors of the country due to the [...]

Panama could export $120 million to Mexico

The Ambassador of Mexico in Panama, Jose Ignacio Piñas, has pointed out that currently goods exported from Panama to Mexico value around $20 million, but there is a potential for up to $120 million.

Ambassador Piñas recalled that in previous years, specifically in 2011, the figure for exports to Mexico from Panama dropped, but he did not know why that fall occurred.

The diplomat said that the launch of the Free Trade Agreement between the [...]

Dubai mission shows interest in Panama’s investment incentives

De izquierda a derecha, Iván Jimenez, Analista Económico y Enrique Ruíz, Promotor de Inversión de PROINVEX PANAMA junto con Ayaz Hiridjee, Business Development Manager de TRIMETA, y Jordan Knight Associate Consultant de IBM Global Business Services

The Ministry of Commerce and Industry, through the Agency for Investment Promotion and Export Panama (PROINVEX) held a business meeting with executives from Dubai, United Arab Emirates, interested in exploring investment opportunities in Panama.

Investors representatives were from TRIMETA and IBM Global Business Services, companies established in Dubai, who visited the MICI for a briefing led by promoters of PROINVEX in which they spoke about the different investment opportunities presented by the country, presenting [...]

Glass exported to Mexico under TLC

The company Optima Ballistic Glass Corp, made its first export to Mexico being one of the first Panamanian firms to take advantage of trade liberalization between Panama and the Aztec nation.

The company exported the bulletproof glass packed in plywood containers.

Optima Ballistic Glass Corp. has spent 10 years in the Panamanian market, with more than 100 Panamanian workers developing its operations in the Albrook Free Zone under Law 32 of April 5, 2011, which [...]

Panama moves to attract the cruise ship market

La Autoridad de Turismo de Panamá (ATP) espera recibir más de 100 cruceros en la actual temporada de cruceros

Reviving the Colón Free Port Law

The plan to turn the city of Colón into a free port, which emerged 23 years ago, will finally become a reality. A key component of the initiative launched by the administration of President Varela, the plan to extend the free trade zone to include 16 blocks of Colón city, is a strategic move to attract the cruise ship market, whose travelers can benefit from duty-free shopping.

This plan [...]

Panama and Colombia top gainers in trade with China

The Latin American trade deficit with China increased last year, according to an analysis by the Latinvex digital publication based on new data from the International Monetary Fund (IMF).

Colombia was the Latin American country that had the greatest growth in its trade with China last year, both in real terms and as a percentage.

Trade between China and Colombia grew by 48.4% to $15.5 billion, the highest growth in the region. As a result [...]

Taxes blamed for CFZ woes

Colon Free Zone/ Zona Libre de Colón

Martinelli retaliated over land sale defeat

By Marijulia Pujol Lloyd

The Colón Free Zone (CFZ) is going through the worst crisis in its history, with the loss of 9,000 jobs and the closing of 400 companies over the last three years, according to the Colón Free Zone Users’ Association (AU).

The reason for this decrease in business stems from the amount of rates and taxes imposed by the Government, competition from other local free zones, [...]