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Course summary (Business in Panama)
The main pillars of the economy of the Republic of Panama are:
The Panama Canal , Banking and Financial services and the
Colon Free trade Zone (biggest duty-free zone in the Americas)
- The Panama Canal (80 kilometers between the Pacific and the Atlantic Oceans,
8 to 10 hours to transit) is implementing an important modernization program
of 1 billion USD, generating big business opportunities
- The Colon Free Zone (Zona Franca de Colón) is the 2th biggest
Duty Free Trade Zone of the world (2.500 enterprises, 27.347 employments, 16.160 millions
USD in imports and re-exports (international trade).
Examples Doing business in Panama
International trade of Panama
- Exports of Panama: 821 million USD. Main export
products: salmon, tuna, beef,
watermelon, shrimp, and pineapples.
- Top Export partners of Panama (as % of total export value): United States 42%,
People's Republic of China and Taiwan 5.3%,
Costa Rica 7.3%, Sweden 5.4%, Netherlands 6.5%, Spain 6.2%.
- Top Import partners of Panama (2009): United states 29%, Costa Rica 5.2%, Mexico 4.5%,
China 4.2%, Japan 3.6%.
Panama has bilateral Free trade agreements (FTA) with United States FTA,
Chile, El Salvador,
Taiwan, Singapore - Panama (FTA),
Guatemala, Honduras,
Nicaragua, and Costa Rica.
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