The highly successful 20th Free Zones of the Americas (AZFA) Conference has actually concluded in San Jose, Costa Rica, following 2 days of professional insights and analysis. The event, of over 300 global participants, is an opportunity for agents of many influential complimentary zones in Latin America to talk about and exchange experiences and knowledge and promote financial investment chances provided by Latin American free zone authorities.

The event was organized by the Association of Free Zones of the Americas (AZFA) and the Association of Free Trade Zones in Costa Rica (AZOFRAS) with the support of the Foreign Trade of Costa Rica (PROCOMER), the Inter-American Bank (IDB) and BAC San Jos, and sponsored by different companies and national and worldwide companies.

Resolving the delegates, Dr. Mohammed Alzarooni, Chairperson World Free Zones Organization, spoke about the need for advancement and development in order to produce 'Next Generation' Free Zones. He detailed new best practices and strategies which can increase efficiency, develop sustainability, develop collaborations, improve relationships, embrace technology and drive innovation.

" Free Zones are a considerable driver in improving financial investment, protecting development and delivering community benefits," Dr Alzarooni stated. "Their presence is important to the continuing success of international corporations and small and medium enterprises alike. And while their existing contribution to individual economies is well established-- what we need to think about now is how to progress 'best practices' towards 'next practices'.

" The principle of 'Next Generation' lays out the difference between an existing successful Free Zone, and a visionary Free Zone with unique prospects. Free Zones have to be more than facilitators, and we have actually reached a stage where they need to not only adapt to brand-new trends and situations, they need to anticipate them.

And for us to enjoy even more benefits to ourselves, our clients and our communities, we need to expand our horizons as well. Our insights at the World Free Zones Organization reveal that the 'next practices' for the 'next generation' require to resolve a series of details targets. Looking towards the future, it is vital that Free Zones are technology-ready. As with any contemporary institution, Free Zones should be tech-ready for change.

" There is a requirement to expect expectations and prepare tailor-made solutions. The 'next generation' needs to not just have the ability to react to demands however have the facilities and resources to provide special services for special circumstances."

Also attending to the opening event alongside Dr. Alzarooni were President of the Republic of Costa Rica, Luis Guillermo Solis, President of AZFA, Juan Pablo Rivera and President of AZOFRAS, Jorge Brenes.

Dr. Alzarooni likewise highlighted the World Free Zones Organization dedication to produce the advancement of Free Zones.

" Another of the main pillars for our 'next practices' should be development. The whole principle of anticipation must be based around the have to innovate and there should be a dedicated and devoted technique to own and improve innovation. Presenting originalities, new items and new approaches is important to advance.

The journey of the Free Zone model has been one of advancement, development and improvement. It is a story of evolution and the essential adaptation to its surroundings. It is a model which has benefitted millions of companies over the years and continues to offer a unique head start in so many countries. We firmly believe that this is the time for new developments and we will help to play a part in bringing those changes about.