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Colon, Panama Is A Free Trade Zone Spurring Economic Growth

In this era of liberalization and globalization, free trade zones are the newest weaponry in the government arsenal designed to bring in the riches into a country. And when you are in Colon, Panama, you will get a fair idea of the prosperity that free trade zones usher in.

Speaking of Free Trade Zones, the first thing that comes to mind is that of Colon, Panama. If you are wondering what Free Trade Zones are, then you must know that these places are labor concentrated manufacturing centers that facilitate the import of raw materials and the export of factory products. Here, in these export-processing zones, tariffs and quotas find no place. Moreover, bureaucratic requirements are lessened so as to draw in companies by means of increasing the incentives for carrying out business there.

You will find most of the free trade zones in developing countries. Well, the fact of the matter is that you will discover that these zones find place in underdeveloped parts of the host country. This is mainly to be a magnet for employers and a result find a way out to win over poverty and unemployment. And how about stimulating the area's economy for that matter? Multinational corporations occupy theses zones and they establish factories to manufacture goods. Free trade zones actually serve as an ideal platform for businesses to thrive well and good.

All That You Need to Know About The Free Trade Zone In Colon, Panama

On the Caribbean Sea coast of Panama, lies the sea port of Colon. Bear in mind that Colon is not only a vital port but also a commercial center and not to mention a much loved tourist spot. And it was in 1953, when Colon became a free trade zone. When it comes to import and re-export of merchandise, Colon in Panama is the best place to go about. This main port in Panama is unquestionably the significant most free trade zone as far as the western world is concerned. If that’s not enough then it is worth being that it is the second largest import / distribution center in the entire world.

Interestingly, it is found that all commodities from raw materials to machinery, can be imported, stored, modified, distributed, processed, assembled, re-packed and then re-exported with no customs duties whatsoever.

Why Should You Choose Panama?

Panama is the ideal place for your trading interests since it is a commercial hub. Statistics say that the Free Trade Zone i.e. the Colon City in Panama is the second most significant trade center of the world subsequent to Hong Kong. Panama is no doubt strategically positioned and with myriad Panamanian banks, just goes another step ahead. Panamanian money or Panamanian currency for that matter is also appreciable.

Beyond all of that, you will also find that costs are certainly lower if compared to some of the other places. Not just that, once you are investing you will note less bureaucracy and on top of that less interference with the local authorities.

In addition, no particular permits or inscriptions prior to your investment are required in the Republic of Panama. It has also earned the name as the region for low cost of living and low operational costs to say the least. So you can be rest assured that when you operate from here you won’t rake up huge costs. Panama is indeed best qualified for investment opportunities. And with an existing free trade zone, Panama is certainly very resourceful.

Colon in Panama has brought about a sea of change, and for the better, in the economy of the country.

For more information or to book a tour of the Panama Free Zone, click on the link below, or contact us.