Colón Free Trade Zone
The Colón Free Trade Zone is a large entity near the Atlantic entrance to the Panama Canal, located in Panama dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean. It is a free port.
Location and size
The Colón Free Trade Zone is the largest free port in the Americas, and second largest in the world. It started operations in 1948 and occupies about 2.4 km2 (600 acres). It is divided in two large areas: one located in Colón, segregated from the city by a wall, and the other relatively new, in the harbor area, which is designated for warehouses, covering 0.53 km2 (130 acres) and 370 m (400 yards) from Colón's commercial sector.
Exports from the free trade zone into neighboring countries are still subject to local rules, regulations, and payment requirements of the importing country. Venezuela, one of the larger buyers from the zone, has had difficulty meeting its obligations to exporters from the zone resulting in unpaid debts. Colombia implemented a series of tariffs which had the effect of reducing imports, primarily from Asia.
- El Nacional Personal (2015-03-20). "Panamá espera pago del gobierno venezolano" [Panama waits for payment from the Venezuelan government]. El Nacional (in Spanish). Caracas, Venezuela. Retrieved 30 April 2016.
- Patricia Rey Mallén (2013-11-05). "Venezuela's Debt And Colombia's Tariffs Are Hurting Panama". International Business Times. Retrieved 30 April 2016.
- Mellander, Gustavo A.; Nelly Maldonado Mellander (1999). Charles Edward Magoon: The Panama Years. Río Piedras, Puerto Rico: Editorial Plaza Mayor. ISBN 1563281554. OCLC 42970390.
- Mellander, Gustavo A. (1971). The United States in Panamanian Politics: The Intriguing Formative Years. Danville, IL: Interstate Publishers. OCLC 138568.
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- "Duty Free B2B. Search. Find. - colonfreezone.com - Trade Leads, Information and Business". colonfreezone.com. Retrieved 30 April 2016.