In the News from Panama

Free Trade Logistics Hub Planned for Tocumen

The expansion of Tocumen International Airport is set to continue with the addition of what is described as “the first multimodal logistics zone in Latin America.”

The logistics zone will be about five minutes from the cargo terminal at Tocumen and operate under the free zone policies, according to coverage in El Capital Financiero. The project will cover 18 hectares and cost $14 million, as part of an expansion of the trade zone around the airport.

The announcement comes as Tocumen grows as the “Hub of the Americas.” A Norman Foster-designed new terminal is almost ready to open, which should bring a new wave of tourists and business travelers. And now this logistics park is further evidence of the key role the growing Tocumen will play in Panama’s economy.

The new Tocumen logistics center will offer several advantages to shippers, including the strategic location, direct access to the urban core and easy air connectivity. The park will offer a “last mile” solution, saving cost and time for shippers moving goods through the region.

The facility will most likely handle goods such as technology, pharmaceuticals, perishable products, parts, and smaller merchandise, according to Carmen Carrizo de Pagés, vice president of planning and strategy.

The facility will also provide a boost to companies based in Panama, increasing operational efficiency, the article notes. About 20 warehouses are expected to be developed and the construction in the first phase is expected to generate about 500 jobs, officials say.