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A customs territory is a geographic territory with uniform customs regulations and there are no internal customs or similar taxes within the territory. Customs territories may fall into several types: A sovereign state, including a federation; A trade bloc that has a customs union; An autonomous or dependent territory that is granted by the ...
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 transshipment). Earlier in history, some free ports like enjoyed political autonomy.
The European Union Customs Union (EUCU), formally known as the Community Customs Union, is a customs union which consists of all the member states of the European Union (EU), Monaco, and the British Overseas Territory of Akrotiri and Dhekelia. Some detached territories of EU states do not participate in the customs union, usually as a result of ...
Akrotiri and Dhekelia, a British territory, is partially integrated with Cyprus in the areas of agriculture, currency, customs, indirect taxation, social security and border control. Gibraltar , also a British territory , is in negotiations with the EU for an arrangement to participate in the Schengen Area and (with exceptions) the Single ...
The main customs territory of the United States includes the 50 states, the District of Columbia, and the U.S Commonwealth of Puerto Rico, with the exception of over 200 foreign trade zones designated to encourage economic activity. People and goods entering this territory are subject to inspection by U.S. Customs and Border Protection.
The fifty states, the District of Columbia, and Puerto Rico form the main customs territory of the United States. Special rules apply to foreign trade zones in these areas. Separate customs territories are formed by American Samoa, Guam, Northern Mariana Islands, the U.S. Minor Outlying Islands, and the U.S. Virgin Islands.
A bilateral free trade agreement is between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries, and creates a free trade area.
The definition should be understood in meaning The International Convention on the Simplification and Harmonization of Customs Procedures (Revised Kyoto Convention) uses the term “free zones” which the revised convention describes as “a part of the territory of a Contracting Party where any goods introduced are generally regarded, insofar ...