Trade

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.

Margarita warns of crisis from break with Panama

Los almacenes tienen problemas en para comprar mercancía

Not only are Colon Free Zone businessmen hurting from unpaid debts and loss of market in Venezuela, but Isla Margarita traders made an “emergency declaration” over the prolonged lack of foreign exchange for the free port and the devastating effect that breaking Venezuela’s diplomatic and commercial relations with Panama will have on the economy.

Teodoro Bellorín, president of the Isla Margarita Chamber of Commerce, warned that “the suspension of political and trade relations with the […]