DEIK - COLON FREE TRADE ZONE NATION'S PARK PROJECT PRESENTATION IN ISTANBUL


17/06/2022




News Center -TDO- Hosted by the Foreign Economic Relations Board (DEIK), a presentation was made on the "Nation's Park" project, which is envisaged to be implemented in CFZ, with the participation of Giovanni Ferrari, General Manager of Colon Free Trade Zone (CFZ) in Panama.

DEİK Deputy Chairman Mustafa Necati Işık, Colon Free Zone Administration (CFZA) General Manager Giovanni Ferrari, DEİK Deputy Secretary General Merih Kepez Örnek, Turkish entrepreneurs and members attended the event.

Under the auspice and presence of the Panama Embassy in Türkiye, the Colon Free Zone Administration (CFZA) represented by the General Manager Mr. Giovanni Ferrari held a meeting with the (DEiK) hosted by the representatives Mr. Mustafa Necati Işık, Chairman of and Ms. Merih Kepez Örnek, Deputy Secretary General among other personalities and members of the Turkish entrepreneurial community.

The agenda of the meeting included a presentation of the Colon Free Zone and its possibilities for Turkish corporations to enter and maintain a presence in the Latin American market.  The location of the Colon Free Zone provides excellent opportunities to cover the region -- composed of over 650 million inhabitants -- with outstanding transportation connections and commercial intelligence that can increase the presence of Turkish products and services in that geographical area.

The sides agreed to collaborate together in exchanging information towards identifying the sectors which can take advantage of the possibilities offered by the CFZ.  The range of opportunities range from the matchmaking between corporations already present in the area and Turkish counterparts, in order to quickly access the Latin-American market, to the establishment of manufacturing facilities in order to take advantage of Free Trade Agreements (FTA) Panama has signed with countries in the region in order to provide preferential access to such markets.

The presence of Turkish interests and products in the Latin American region has grown in recent years, but can increase greatly through the size and track record of the Colon Free Zone, active since 1948 in many fields, ranging from basic necessity products to luxury items.  The CFZ estimates that the current community of over 2,600 corporations present in the zone will achieve a yearly turnover upwards of USD 13 billions, number very likely to increase in the coming years as economic reactivation of the regional economy continues and countries such as Türkiye advance efforts to make full use of the advantages the CFZ offers to foreign corporations.

The CFZA also presented a Project named NATIONS PARK, an initiative aimed at establishing country pavilions within its area in order for countries to showcase their touristic, cultural, gastronomical as well as its commercial offer to visitors from Latin America.  This initiative scheduled to initiate in mid-2023, will command the attraction of Latin-Americans eager to visit over 30 pavilions presented by countries from around the world.  The outstanding transportation connections that Panama offers to the American continent with intercontinental flights as well, guarantees a successful venue that will provide exhibiting countries an unique opportunity display to its attractions while becoming an educational tool for younger generations eager to learn more about the diversity of the world.

Through the fostering of integration, unity and the recognition of contribution to global culture by the countries that choose to participate in this initiative, the CFZA wishes to provide an affordable solution to the general Latin American public while generating the interest to travel to the respective countries and promoting understanding among citizens of the world.

The CFZA took the occasion of the meeting with DEIK to cordially invite Türkiye to form part of the initial list of 30 countries to showcase in NATIONS PARK.


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