{"id":7040,"date":"2013-03-03T11:31:30","date_gmt":"2013-03-03T16:31:30","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=7040"},"modified":"2013-03-03T11:31:30","modified_gmt":"2013-03-03T16:31:30","slug":"colon-free-zone-faces-devaluation-in-venezuela","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/colon-free-zone-faces-devaluation-in-venezuela\/","title":{"rendered":"Colon Free Zone Faces Devaluation in Venezuela"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/03\/zona_libre_colon.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7041\" title=\"zona_libre_colon\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/03\/zona_libre_colon.jpg\" alt=\"\" width=\"565\" height=\"350\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/03\/zona_libre_colon.jpg 565w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/03\/zona_libre_colon-300x185.jpg 300w\" sizes=\"auto, (max-width: 565px) 100vw, 565px\" \/><\/a><\/p>\n<p>Location is one of the main keys to the  enormous success of the Colon Free Zone, making it an ideal hub in this  age of globalization of the world\u2019s economy. The Colon Free Zone is the  main commercial distribution center for the hemisphere. To this end the  Zone is constantly reconstructing and modernizing warehouse, shipping  and transit systems for all types of merchandise, keeping one step ahead  of modern technology and always ready to offer the best multimodal  services.<\/p>\n<p>Nearly all world routes pass the Colon  Free Zone, located as it is at the Atlantic gateway to the Panama Canal,  with access to both the Atlantic and the Pacific. Wholesalers and  retailers travel to this Free Zone because here they are able to buy all  consumer products either by the container load or in smaller  quantities, because Free Zone importers specialize in bringing in  container loads of goods, and breaking them down for resale.<\/p>\n<p>Historically the Zone has staked its  ground on importing goods duty-free from around the world and selling  them to tariff-bound\u00a0Latin America. With that business basis no longer  relevant as Latin tariff barriers have fallen, the Zone has had to  reshape and expand its business according to the ground rules now  prevalent worldwide: globalization of trade, speed and efficiency of  transit, and competitive prices.<\/p>\n<h3>Now, the 40% devaluation of the Venezuelan currency threatens the ability  of the largest customer of the CFZ  to pay debts in dollars.<\/h3>\n<p>Martesfinanciero.com reports that &#8220;In a  globalized market, when a country gets a cold it is normal that another  one sneezes. This is the case of Panama, and more specifically of the Colon Free Zone (CFZ), which sees a dangerous flu coming on after the roughly 40% devaluation of the Venezuelan bolivar, which has gone from 4.3 to 6.3 per dollar. &#8221;<\/p>\n<p>Surse Pierpoint, president of the Association of Members of the Colon  Free Zone, expressed their fears about the impact that the devaluation  of the Bolivar may have on the business of the CFZ mainly in the volume  of operations, with no growth expected for 2013, and in the actual  capacity of the Venezuelan clients to honor their obligations<\/p>\n<p>Venezuela is the main customer of the CFZ. In 2012  nearly 15 billion  dollars were re-exported from this area, of which 3 billion went to  Venezuela, 18% of the businesses of the CFZ.<\/p>\n<p>Source: martesfinanciero.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Location is one of the main keys to the enormous success of the Colon Free Zone, making it<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[8,40,38,10,12,39,46,34,82,62,21,42,16,29,27,18,22,19,47,26,49,14,219,11,6,105,20,51,25,31,7,32,15,44,17,37,35],"class_list":["post-7040","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-azuero-penninsula","tag-beach","tag-boca-chica","tag-bocas-del-toro","tag-boquete","tag-buenaventura","tag-caribbean","tag-casco-antiguo","tag-coffee","tag-coffee-in-panama","tag-energy","tag-estate-homes-in-panama","tag-estate-planning","tag-exchange-property-in-panama","tag-fantasy-island","tag-foundations","tag-hydro-electric","tag-investments-in-panama","tag-island-property","tag-islands","tag-labor-in-panama","tag-legal-issues","tag-move-to-panama","tag-offshore-real-estate","tag-panama","tag-panama-canal","tag-panama-economics","tag-panama-hotels","tag-panama-jazz-fest","tag-panama-property-exchange","tag-panama-real-estate","tag-pedasi","tag-tax-issues","tag-travel-to-panama","tag-trusts","tag-venado","tag-venao"],"yoast_head":"<!-- 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