Panama: 11.6% Decrease in Free Trade Zone Activity

Companies located in the Colón Free Zone (ZLC) have reported a decrease of 11.6% during the first three months of the year.

Monday, April 6, 2009

The above is in comparison to the same period last year, according to the manager of the ZLC, Nilda Quijano.

In statements to Prensa.com, she added: "In the face of the crisis, international companies in the ZLC have had a decrease of 11.6% with respect to 2008. However, we are staying optimistic and believe that with the dynamics of our entrepreneurs and the financial center of our country we are not going to have major constraints."

More on this topic

Colón Free Port Rejects Fiscal Modifications

August 2009

Members of the Association of Users of the Colón Free Port (ZLC) say the tax tweaks will increase operating costs.

Giovanni Ferrari, president of the Association, remarked that the new taxes could be dangerous for the stability of several ZLC companies.

Newspaper Prensa published more comments by Ferrari: "ZLC users have strongly opposed the measure.

Activity Falls by 11.6% in Colon Free Zone

March 2009

In February 2009, imports and re-exports totaled $1.143 billion or 11.6% less than in February 2008.

Surse Pierpoint, vice president of the Association of Colón Free Zone Users, told prensa.com that: "There seems to be a trend, a cooling in the commercial movement of the markets we serve," and under normal conditions this would "be worrisome.

Panama: Colon Free Zone activity grows

December 2008

Commercial movement grew 50% in November.

Movement of goods in the Colon Free Zone have continue to be strong. Evidence of this is that from January to November, accumulated commercial activity in the zone was at a total of $18 billion dollars, or a growth of 18.7$ compared to the same period last year.

Panama: Operations in the Colon Free Zone (ZLC) grew 12.1%

October 2008

Import and re-export activity in the Zone reached $13.92 million.

Imports totaled $6.44 billion, an increase of 15.9%, while re-exports totaled $6.65 million for an increase of 8.5% in the same period, according to information provided by the manager of that entity, Nilda Quijano, during presentation of the budget in the Budget Commission of the Assembly.

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