Is Panama a free trade zone?

Panama created five new free trade zones. U.S. companies may access these zones to benefit exports to the region. Panama’s special economic zones directly support the Panamanian government’s effort to consolidate Panama as a logistic hub of the Americas.

Where is Colon Free Zone in Panama?

Colon Free Zone is located in the middle of the Americas at the Atlantic entrance of the Panama Canal, specifically at Colon City, becoming a natural distribution center (DC) serving to the regional market of Central America, South America and the Caribbean.

What are two examples of a free trade zone?

Free-trade zones are organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. Examples include Hong Kong, Singapore, Colón (Panama), Copenhagen, Stockholm, Gdańsk (Poland), Los Angeles, and New York City.

What countries have free trade zones?

Most FTZs are located in developing countries; Brazil, Colombia, India, Indonesia, El Salvador, China, the Philippines, Malaysia, Bangladesh, Nigeria, Pakistan, Mexico, the Dominican Republic, Costa Rica, Honduras, Guatemala, Kenya, Sri Lanka, Mauritius, and Madagascar all have EPZ programs.

What is the Colon Free Trade Zone in Panama?

The Colon free trade zone, Panama Republic of Panama. One, the modernization of the economic service sector, and the other, a mechanism without precedent to streamline regional commerce on a large scale. The Colon Free Trade Zone has been in operation since then; one of the pillars of the Panamanian economy.

What are the tax free zones in Panama?

Panama Tax Free Zones 1 Colon Free Trade Zone The Colon Free Trade Zone was created in 1948 and is the 2 nd largest in the world behind Hong Kong’s. 2 The Panama Pacifico Special Economic Zone The Panama Pacifico Special Economic Zone is being constructed on a 1,390 hectare site with an 8,400 foot runway jet airfield. 3 City of Knowledge

Where does Panama get most of its trade?

It is situated between North and South America, bordered by the Caribbean Sea and the Pacific Ocean. A majority of Panama’s trade transactions are carried out in the Colón Free Trade Zone, which is one of the biggest free trade zones in the world.

Why is Panama a good place to do business?

Panama’s strategic location makes it the best destination in America to export and import products. It is situated between North and South America, bordered by the Caribbean Sea and the Pacific Ocean. A majority of Panama’s trade transactions are carried out in the Colón Free Trade Zone, which is one of the biggest free trade zones in the world.