The Colón Duty Free Zone was created as an autonomous state institution on June 17, 1948, by Law No 18. It is 400 hectares wide and is located at the entrance of the Panama Canal on the Caribbean side, in Colón Province. It is considered the second largest Duty Free Zone in the world and the biggest in the Western Hemisphere. It serves as a Global Logistics Center for the world, with over 2,000 established companies, 250,000 annual visitors and annual business transactions that generate $11,000 billion in imports, exports and re-exports.
For its incomparable geographical position and its access to the most important ports on both the Caribbean and the Pacific sides of the isthmus (Manzanillo International Terminal, Colón Ports Terminal, Colón Container Terminal and the Panama Ports Company), it has become an international hub port. This duty free zone also has the following transportation services: France Field Airport, Panama Railroad Station, access to the Panama-Colón highway, Cruise ship Terminal and Ground Transportation Terminal.