![]() 18 of 17 June 1948, as an autonomous entity to develop the country's competitive advantages. Colombia implemented a series of tariffs which had the effect of reducing imports, primarily from Asia. Venezuela, one of the larger buyers from the zone, has had difficulty meeting its obligations to exporters from the zone resulting in unpaid debts. It is divided in two large areas: one located in Colón, segregated from the city by a wall, and the other relatively new, in the harbor area, which is designated for warehouses, covering 0.53 km 2 (130 acres) and 370 m (400 yards) from Colón's commercial sector.Įxports from the free trade zone into neighboring countries are still subject to local rules, regulations, and payment requirements of the importing country. It started operations in 1948 and occupies about 2.4 km 2 (600 acres). ![]() The Colón Free Trade Zone is the largest free port in the Americas, and second largest in the world. It is located on the Caribbean coast, near the Atlantic entrance to the Panama Canal, in the province of Colón, within the city of Colón though outside its municipal jurisdiction and operates as an autonomous entity of Panama. The Colón Free Trade Zone is a free port in Panama dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean.
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