Why Buy From The Zona Libre De Colon In Panama?
A Zona Libre, better known as a Tax Free zone, is a geographic area where companies can import products from abroad and re-export to another country free of duty and taxes. This allows companies to better compete on an international level.
Key figures about the Zona libre de Colon:
* Second largest Tax Free Zone in the world after Hong Kong
*Largest free zone on the American continent
*Approximately 2500 wholesale companies
* 300,000 buyers yearly
*300 000 buyers every year
*Over 25 000 employees
*14 billion in import and re-exports every year
Colombia is the largest buyer of merchandise, purchasing nearly 16 percent of all Colon Free Zone exports. Other important buyers come from Venezuela, Panama (domestic market), Guatemala, Ecuador, Costa Rica, Dominican Republic, the United States, Chile, Cuba, Honduras, Peru, Brazil, Nicaragua and El Salvador. These countries buy approximately 83% of all exports from the Colon Free Zone.
The Zona Libre Colon benefits greatly from its proximity to the Panama Canal. Every year over 12,700 cargo vessels cross the Panama Canal. This traffic will increase with the extension of the Panama Canal that will allow Post Panamax vessels to cross the Canal by 2014. New development projects of warehouses and logistics facilities are planned for the next 5 years allowing the trading in the Zona Libre de Colon to grow at a very past pace.
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