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Commercial movement in Panama’s free trade zone grows

Panama City, Jun 14 (Prensa Latina) The Colon Free Zone (ZLC), in Panama, closed the first five months of this year with a commercial movement valued at 11 billion 426 million dollars, it was reported.

According to the entity´s information, the result represents a 33,8% boom in relation to the same stage of 2022, and 70% higher than the numbers of 2021.

Of the total reported from January to May, four billion 900 million dollars corresponded to imports, while six billion 525 million dollars was the sum of re-exports or sales made by companies operating in the free trade zone.

Pharmaceutical products and their derivatives (raw materials, instruments, supplies, etc.) continue to set the tone due to the high regional demand that continues.

As for the destination of re-exports, the European Union, Panama, China, Costa Rica and Venezuela, occupied the first positions of the cargoes shipped.

On the other hand, several businessmen indicated that the bill that modifies the norms that regulate the commercial activity within the complex should be discussed, with the purpose of equaling the fiscal incentives with those received by other free trade zones.

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