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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 are labor concentrated manufacturing
centers, which make the import of raw materials and the export
of factory products possible. 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 to 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
cater an ideal platform for businesses to thrive well and
good.
Free Trade Zone In Colon, Panama – Know-how
On the Caribbean Sea coast of Panama, lays a seaport in the
name of Colon. Colon is not only a vital port but also a commercial
center and not to mention a much loved tourist spot. It was
in 1953, that 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 most significant free trade zone as far as the western
world is concerned. It is also 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.
What makes Panama the ideal place?
Panama is the ideal place – it is a commercial empire.
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, it just goes
another step ahead. Panamanian money and dollars 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 cost to say the least. Panama is
indeed best qualified for investment opportunities. And with
an existing free trade zone, Panama is certainly very resourceful.
Colon free zone in Panama has indeed fostered the economy
of the city to a great extent.
For tours to the Panama Free Zone, please see the link below,
or contact us for more
information.
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