Trade Increase at Colon Free ZoneMonday, January 24, 2011 In November 2010 the CFZ increased its sales by $ 1.84 million compared to 2009. The statistics by the Comptroller General showed sales until November 2010 of $ 19.9 million, compared to the $ 18.09 million of the same period last year. Trade Up 7.2% at Colon Free ZoneMonday, November 29, 2010 In the first eight months of the year, sales at the Panama free trade zone reached $ 13.08 billion. This figure is 7.2% higher than the same period of 2009, as revealed in a bulletin prepared by the General Comptroller's Office. Commercial Activity Increases 17% at the Colón Free ZoneMonday, June 15, 2009 In May, commercial activity at the Colón Free Zone was $1.574 billion, 17.4% more than the $1.340 billion reached during the same period of 2008. A 20% increase in imports and a 15.2% increase in re-exports were registered. Activity Falls by 11.6% in Colon Free ZoneMonday, March 16, 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. However, when you see the US stock market down 10%, it does not seem as serious, but we have not bottomed out yet and we are expecting the downward trend to continue in March." Panama: New Law for Colon Free ZoneMonday, March 28, 2016 MEPs have given the green light to legislation that modernizes the legal framework of the free trade zone, including the consolidation of business operations under other schemes. From a statement issued by the National Assembly of Panama: Colon Free Zone Grows by 42%Friday, October 7, 2011 Commercial activity in Panama's free zones was 42% higher in the first 7 months of this year than in the same period in 2010. According to the Controller General's Office transactions totaled $15,870,000 in July 2011, compared to $11,173,000 in the same period in 2010. Venezuelan Devaluation to Impact PanamaWednesday, January 13, 2010 The Colón Free Zone will be affected, warned José Domingo Arias, Commerce vice minister. Venezuela is one of the leading re-export destinations of the Colón Free Zone. As such, the decision by the Venezuelan government to devaluate its currency by 100% will impact the Free Zone negatively. Expectations in the Colon Free ZoneMonday, June 18, 2012 The Zone’s directors expect more freight movement, further processing of products and employment generation. Economic growth in the Colon Free Zone is unquestionable. The volume of exports and imports in 2011 reached $29.126 billion, growing by 56% over the past three years. Panama: Improvements to the Colon Free ZoneSunday, February 28, 2016 The government is proposing relaxing charges for maritime entry, waste collection, and security, and is awaiting a response from users of the Free Zone on 1 March. The proposal sent by the Government of Panama to the Association of Users of the Colon Free Zone (AU) provides for reductions in the charges for maritime entry from $150 to $25, as requested by the AU, a reduction in the fee for waste and security services and a change in the use of the declaration of commercial movement. Free Zone in Colon Grows 40%Friday, December 16, 2011 Business in the Colon Free Zone in Panama was 40% higher in the first 11 months of the year compared to the same period of 2010. A "record number" of $ 30,000 million is projected for the end of the year, according to the manager of the Colon Free Zone, Leopoldo Benedtti. Panama: Operations in the Colon Free Zone (ZLC) grew 12.1%Friday, October 10, 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. Colon Free Zone Facing Tough 2013Wednesday, July 10, 2013 According to the Association of the CFZ, if it were the end of 2013 now, the Zone would be recording losses of $1.5 billion. Surse Pierpoint, president of the Association, explained that the main causes are the protectionist measures implemented by Colombia and Venezuela, two of the main customers of the CFZ. Colon Free Zone Grows 9.5%Wednesday, October 28, 2009 Trade activity in Panama's Colon Free Zone in the first 9 months of this year was 9.5% higher than the same period of 2008. For September 2009, activity was 15% higher than the same month of 2009. More Companies Leaving Colon Free ZoneFriday, February 19, 2016 The lack of tax incentives has led to 55 companies leaving the free zone in January 2016, on top of the 125 who ceased operations last year. In total, from 2015 to now, about 180 companies requested the removal of their key operations in order to cease doing business in the Colon Free Zone (CFZ), according to the Association of Users of the CFZ. Panama: A Unique Free Zone LawThursday, October 22, 2015 The private sector is calling for a unique legislation that guarantees equal access to free zone regimes both for domestic and foreign companies. From a statement issued by the Panamanian Association of Business Executives (APEDA): |
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