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Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity .
The Ghana Free Zones Authority (GFZA), is a Ghanaian government-controlled institution formed on 31 August 1995 to facilitate the setting up of Free Zone in Ghana to improve the economic development and to regulate its related activities. [1] [2] It was enacted by an Act of Parliament, the Free Zone Act 1995 (Act 504). [3]
The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: 100% foreign ownership of the enterprise; 100% import and export tax exemptions
The Djibouti Ports & Free Zones Authority (DPFZA) is the governmental body of Djibouti that administers and manages the Port of Djibouti and several other facilities in the country. The DPFZA also oversees the management of Djibouti International Free Trade Zone , serving as a liaison between the companies based there and other governmental ...
1937 poster celebrating the United States' first foreign trade zone, Staten Island In the United States, a foreign-trade zone (FTZ) is a geographical area, in (or adjacent to) a United States port of entry, where commercial merchandise, both domestic and foreign, receives the same Customs treatment it would if it were outside the commerce of the United States.
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A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other.