Colon Free Zone
Colon Free Zone (CFZ) is the premier free trade zone in the western hemisphere. Created in June 1948, the Colon Free Zone has served for 63 years as the major trading center for Latin America and the Caribbean. Its operations began in a segregated area of 35 hectares originally in Colon Down Town. Now, this free trade zone is divided into nine different sectors totaling 1064.58 hectares for exhibition, storage and warehousing, logistics services, and other potential areas for expansion.
The main objective of Colon Free Zone is to promote international trade under a tax exempted work frame where commercial activities are wholesale oriented, and logistics and banking activities support them.
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. It is surrounded by four containerized seaports, two cruise terminals, an international airport and a railroad terminal.
Colon Free Zone is strategically located to serve the regional market. By connecting the major suppliers from Asia, Europe and North America, the CFZ stores and redistributes tax exempted merchandise to the rest of the continent.
This free trade zone takes advantage of a highly connected multimodal platform. Four container seaports located in Colon and one in Panama City interconnected by a modern railroad network provide maritime connectivity to the global market. These are Manzanillo International Terminal (MIT), Colon Container Terminal (CCT), Cristobal-Panama Ports Company (PPC), and Colon Port Terminal (CPT) at the Atlantic side, and Balboa-Panama Ports Company (PPC) at the Pacific side.
High air transport connectivity is also provided by Tocumen International Airport, a regional hub for major airlines covering the Americas, Europe and Asia. A new international airport is being developed in Colon next to France Field area which aims to increase cargo movement, and the flow of tourists and visitors.
This multimodal platform is interconnected with a road network of highways and corridors between both metropolitan cities.
Facts and Figures
|Colon Free Zone (Down Town)||91.05|
|20 de Diciembre||4.6|
|Airport Development Area||288|
|Coco Solo Expansion Area||228.94|
|Connectivity to other logistics assets|
|Number of companies|
|Total (by companies)||30,978|
|Long termn employment (by companies)||23,822|
|Temporary employment (by companies)||7,156|
|Gross domestic product *|
|Source *: Ministerio de Economía y Finanzas. 2017|