Colon Free Trade Zone Outlook

From January to September of 2009, Colon Free Trade Zone (CFTZ) export value grew by 16.1%, while volume fell by 23% in the same period.

By 2010, CFTZ exports to Colombia (the second greatest purchaser from CFTZ) are expects to improve because dismantling of the barriers that country had for many years against imports from CFTZ. In last year, World Trade Organization (WTO) ordered to Colombia dismantling the barriers against imports from CFTZ.

Panama Economy Insight forecasts that CFTZ re-exports value will grow by only 3.4% in 2010. By 2010, the CFTZ growth could be higher, but the problem is that Venezuela (the greatest buyer from CFTZ) will have another economic contraction, according to International Monetary Fund forecast published in October in its web site.