Tampa Bay and Panama Foreign Trade Zones Sign Joint MOU to Pursue Business Opportunities

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Tampa's FTZ No. 79 Partners with Panama Foreign Trade Zones to Strengthen International Trade and Logistics

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“The signing of this MOU enhances the Tampa Bay FTZ program and strengthens the ability of the Tampa Bay import and export community to be competitive in the international marketplace,” Wade Elliott, chairman and president of FTZ No. 79.

Tampa Bay’s Foreign Trade Zone (FTZ) No. 79 continues to build a strong platform to help the Tampa Bay import/export business community succeed in the arena of international trade and logistics. In line with this mission, yesterday, FTZ No. 79 and the Free Zones Association of Panama signed a memorandum of understanding (MOU) to work collaboratively to promote international trade by using their respective FTZ programs as catalysts.

Specifically, the MOU signifies that the signing parties will strive to:

  • Promote information, commercial exchanges and new business opportunities,
  • Promote domestic and foreign investment in FTZs,
  • Promote international trade competitiveness, and
  • Promote the transfer of new technology to improve manufacturing for global markets.

“The signing of this MOU enhances the Tampa Bay FTZ program and strengthens the ability of the Tampa Bay import and export community to be competitive in the international marketplace,” Wade Elliott, chairman and president of FTZ No. 79, said.

Administered by Port Tampa Bay, FTZ No. 79 assists companies by streamlining the process and minimizing the costs associated with qualified importing, exporting, manufacturing, and distribution activities. “Companies in Tampa Bay will be able to leverage the benefits of the FTZ No. 79 program, and also the benefits of FTZs in Panama, to improve and add value to their overall supply chain,” added Torrey Chambliss, FTZ No. 79 administrator.

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Torrey Chambliss
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