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International Trade LawInternational trade law is the mixture of national law and public international law that applies to transactions for goods or services that cross national boundaries. As Panama has a strategic global location, this area of law is of particular importance in commerce. For many countries, certain multilateral treaties play an important roles in this field - notably the Vienna Convention for the International Sales of Goods and several dealing with dispute resolution and the enforcement of resulting adjudications. A large part of international trade in which Panama place a principal role is that of shipping and the delivery of goods to their destination. Panama's maritime facilities have facilitated the country's emergence as one of the world's primary multimodal logistics centres. The benchmark is the Panama Canal, which transported over 13,000 vessels, 192 million tons of cargo and approximately 700,000 passengers and crew in 1998. Due to its attractive laws for ship registration, Panama has the largest maritime fleet in the world, and its four privatized container ports represent an investment of over $4.5 billion. The ports, combined with the reactivation of the trans-Isthmian railroad, originally projected to move one million cargo containers in 1999 and two million by as early as 2002 are now fully functioning as an integral part of the economy. The Panama Canal is supported by the Colon Free Trade Zone, which is responsible for a substantial amount of trade with other countries in Latin America. The Colon Free Trade Zone is located on the Atlantic side of the Panama Canal and is dedicated to the re-export of goods to the Americas and the Caribbean. Wholesalers and retailers travel to the Free Zone because there they are able to buy all consumer products either by the container load or in smaller quantities, because Zone importers specialise in bringing in container loads of goods, and breaking them down for resale. Please do not hesitate to send us an email if you are interested in receiving more information regarding the Free Trade Zone or other international trade facilities in Panama.
Last modified 26-Sep-2007 17:37 -0400 |
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Copyright - Disclaimers - Privacy Statement Copyright © 2000 - 2007, Beth Anne Gray J. For questions or comments, please write to the webmaster Last modified 26-Sep-2007 17:37 -0400 |
