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Some 25 companies of Costa Rica will seek alliance with Colón Free Zone Panama

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  • Wed, 06/13/2018 - 20:24
Colon Free zone
  • @zolicol

At least 25 companies from Costa Rica will attend a meeting agreed with the Colón Free Zone (ZLC), considered the largest in the American continent and located in the Panamanian Caribbean, to settle in this Panamanian commercial emporium, informed an official source today.

The activity will take place in a hotel in the Costa Rican capital, San José, tomorrow and next Friday, at the initiative of the manager of the free zone, Manuel Grimaldo, who in view of the growing economy of the neighboring country and trade, sees fit to hold a meeting to find more partners of the ZLC.

"The objective of this approach with businessmen is to offer them the interesting credit facilities of the FTA for buyers and the significant benefits to be established in the area, either as a Company or Representative," said a statement from the Panamanian commercial entity.

Currently, Costa Rica grows at a rate of 3.8 percent and remains the fifth commercial partner of Panamanian exports of the national economy, accounting for 5.3 percent of them.

According to data from the free trade zone, the commercial dynamics of imports of Costa Rica from Panama were dominated by pharmaceutical products, machines and electrical recording devices. Only the first quarter of 2018 imports via ZLC reached 3.4 million and re-exports 168.3 million dollars.

Meanwhile, in 2017 the total re-exports of FTZ to Costa Rica reached 701.5 million dollars and imports totaled 27.9 million dollars.

"As a Central American country, we are very motivated to further strengthen business ties with Costa Rica and evaluate the possibility of developing annual forums where both entities promote their strengths to commercial sectors in Panama and Costa Rica," said Grimaldo.

The manager of the tax-free area, which brings together 2,649 companies and generates 21,000 jobs, has an aggressive agenda of trade missions to Costa Rica, Guatemala, El Salvador, the Dominican Republic, the Caribbean and South America, with which he expects to have positive results for the end of 2018, said the entity.

The trading platform closed 2017 with a movement of 19,713 million dollars (imports plus re-exports), 0.3 percent more than what registered in 2016, according to official data.

Source-EFE

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