The Colon Free Zone, better known as Zona Libre Panama to the Latin Americans, is the second largest tax free zone in the world after Hong Kong.

What is a Zona Libre?

It is a geographical area that allows companies located in this zone to import and export products without paying any duties. This allows products to stay competitively priced when it arrives at its final destination.

Information about the Republic of Panama

The Republic of Panama is located in Central America. The border countries are Colombia and Costa Rica. The population is approximately four million people. Although it is a small country, it is one of strongest economies in Latin America as it is strategically located as the doors to the region. The language that is spoken is Spanish but there is a large English speaking community. The Republic of Panama also enjoys economic stability thanks to the use of the US dollar as its legal tender which fluctuates less than other currencies in the region. A large banking center, a strong insurance industry and high tech ports also contribute to the success of this zone. It is also the home of the famous Panama Canal which allows ship to cross from the Pacific to the Atlantic and vice versa in less than one day. This saves a valuable amount of time and money.

Why should you buy from the Zona Libre Panama?

Thanks to the Panama Canal, the Zona Libre Panama is ideally located at the crossroads of the world.

Facts:

*Most important tax free zone in Latin America and the Caribbean

*Second largest tax free zone after Hong Kong

*More than 400 hectares

*Thousands of wholesale companies

*Over 200 000 buyers visiting the zone every year

*Over 25 000 employees

*14 billion import and exports every year

With the expansion of the Canal under way and expected to be completed by 2014, the Zona Libre Panama will be impacted positively thanks to the possibility of Post Panamax ships being able to cross the gateway.

David Bess specializes in assisting businesses to successfully trade with Latin America. To access to his valuable resources, tips and links, click here comercio internacional. Also published at What is the Zona Libre Panama?.

Tags: business, business latin america, Colon Free Zone, global trade, International Business, panama free zone, Sales and Selling, trade, Trade latin america, trade leads latin america, Zona Libre Colon, Zona Libre Panama

This entry was posted on January 29, 2012 at 8:37 am. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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