commerce

Free Zone advances

The Colon Free Zone launched an information system yesterday which will make it the most technologically advanced commercial hub in the region, said Nilda Quijano, general manager of the Zone. The Declaración de Movimientos Comerciales Electrónico (DMCE), is an electronic system that will enable Free Zone users to save time in the processing of merchandise entering and leaving the trade center and also reduce spending on paper.

The system, valued at $6 million, was created by the Singaporean consortium Crimson Logic and the Panamanian firm Dchain. Dchain's president, Roberto Melo, said that a process that once took eight hours can now be completed in minutes. If the merchandise requires a health certificate, for example, that information will be in the network, expediting the process considerably.