(Not to be confused with a free trade area or FTA.) A designated area within a country in which goods can be imported, stored, or processed without being subject to customs duties and taxes. Also known as a "foreign trade zone," a "free port," or a "bonded warehouse." See also transit lone and export processing lone."
An area within a country (a seaport, airport, warehouse or any designated area) regarded as being outside its customs territory. Importers may bring goods of foreign origin into such an area without paying customs duties and taxes, pending their eventual processing, transshipment or re-exportation. Free trade zones may also be known as “free ports”, “free warehouses”, and “foreign trade zones”.
A part of the territory of a state where any goods introduced are generally regarded, in so far as import duties and taxes are concerned, as being exempted (Kyoto Convention.)
A secure zone or area in a port or airport designated for duty-free entry of foreign goods or components. The goods may be stored, displayed or assembled into larger parts. Duty is paid when the finished product enters the U.S. market. If the goods are re-exported to another country, no duty is paid in the U.S. Also called a "Foreign Port" or "Foreign Trade Zone."
An organization of nations whose members have no trade barriers among themselves but are free to fashion their own trade policies toward nonmembers.
Port designated by a country's government for duty-free entry of non-prohibited goods.
a designated area within a country where transnationals can open up factories without paying taxes to the government of their host country, the idea being that such bait will make a country a tempting place for investment
an area of territory surrounding a port or airport that for the purposes of import duties is deemed to be outside Chilean territory
an area within a city or near a city that is open to international trade
a port which have a wide range of facilities and services for the storage and re-export of duty-liable and controlled goods
a specially designated area within a country that is generally considered to be outside of customs territory for the purpose of duties and taxes
a stage or form of integration in which all trade barriers between member countries are abolished
Specific areas in the territory where all goods stored are treated as dutiable goods with all relevant taxes exempted.
A commercial or industrial area near a port of entry where merchandise and raw material imports are not subject to customs charges or duties
A port designated by the government of a country for duty-free entry of any nonprohibited goods. Merchandise may be stored, displayed, used for manufacturing, ect., within the zone and reexported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the godos pass from the zone into an area of the country subject to the Customs Authority. Also known as Foreign Trade Zone.
A port designated by the government of a country for duty-free entry of any non-prohibited goods. Merchandise may be sorted, displayed, used for manufacturing, etc., within the zone and re-exported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the goods pass from the zone into an area of the country subject to the Customs authority.
A free trade zone (FTZ) or Export processing zone (EPZ) is one or more areas of a country where tariffs and quotas are eliminated and bureaucratic requirements are lowered in order to attract companies by raising the incentives for doing business there. Free trade zones can be defined as labor intensive manufacturing centers that involve the import of raw materials or components and the export of factory products.