Penciled in as the world's second-largest free trade zone -and the number one in the Western Hemisphere- this is no doubt one of the major investment centers all around the globe

The Colon Free Zone (CFZ), located in the Atlantic entry of the Panama Canal and given its proximity to the Pacific Tigers, North America, let alone hassle-free access to Europe and Australia, is no doubt the perfect hub of today's globalized world economy.

Home to over 1,600 companies that target a market of 525 million consumers, the CFZ is the number-one reexportation center of the Western Hemisphere, churning out figures in the neighborhood of $10 billion on a yearly basis.

It also holds privileged access to financial and transport institutions since over 13,000 freighters and vessels from as many as 84 different countries cross the Panama Canal every year. More than 40 commercial and cargo airlines are headquartered there.

The CFZ Users Associations -founded in 1979 by a number of businesspeople in a bid to promote the place's services to world trade and the array of conveniences in terms of consulting and professional training provided to all members to improve competition- exerts a tremendous influence on its daily going.

«We must bear in mind,» says Digna Donado, "that the CFZ is the great supplier of the Americas and the world. Companies here may import and reexport their products free of taxes and with a minimum of restrictions. «It's a logistic center of goods redistribution towards Asia, Europe and the Americas because most of the other free trade zones deal mainly with manufacture.»

Referring to the association's coming moves, the group is planning exhibits and fairs in Latin America, coupled with negotiations and product expositions. Moreover, Mrs. Donado says, there's a clear-cut intention to continue helping the development of both Colon and the rest of the country, improve and step up services in the free zone, and beef up its leadership in the region as one of Panama's major economic powerhouses.