Free Zone Panama will participate in regional meeting on security and combating illegal trade

Editorial Dept. Voz de la Diaspora

Representatives of the Colon Free Zone (ZLC) in Panama will travel to Argentina to participate in the first regional meeting on security and illegal trade.

The meeting to be held 14 June will host international speakers experts in areas related to safety, illegal trade and laundering through trade.

In the CFZ, which is the largest shopping complex of its kind in Latin America operate hundreds of companies specialized in import and reexport of goods coming mostly from China.

The general manager of the ZLC, Manuel Grimaldo said the participation of entrepreneurs operating in the special area sends a "strong message" to the market about the work done by Panama to face the crimes that may affect the profile and commercial activity in the country.

Among the activities that will host the regional meeting featured a panel on public-private cooperation on security issues, moderated by the regional director of Crime Stoppers, Alejo Campos, It will also be part of another on illicit trade as a threat to national security in the framework of which will be presented the results of Crime Stoppers in the Caribbean and Central America.

The report will show how the organization contributes successfully with the security sectors of the countries where it operates to address crimes. This activity would be prior to the opening of Crime Stoppers in Argentina and Paraguay.

In the last five years, ZLC has lost business, affected by the decline in international trade, regional conflicts, and the reduction of re-exports to its main customers in Venezuela by the political crisis, and Colombia due to the imposition of tariffs on some product lines free zone, who has faced both countries in the World Trade Organization.

Given the ups and downs of recent years, He has had to look for alternatives to reposition itself in the market, and it is prepared to incorporate new business models, including implementation of e-commerce, and diversification of markets for goods re-exported.

Grimaldo estimated that e-commerce, plus the establishment of Colón Free Port to attract tourists and nationals can buy goods twice a year, facilitating trade will increase turn, the provision of complementary services, a way to be more competitive compared to other free zones worldwide.