free customs and trade zone
1free-trade zone — foreign trade zone. See free port (def. 1). Abbr.: FTZ * * * Area within which goods may be landed, handled, and re exported freely. The purpose is to remove obstacles to trade and to permit quick turnaround of ships and planes. Only when the… …
2Customs and Monetary Union — World trade A series on Trade …
3Free Trade Zone — A designated area within a country in which businesses can operate free of customs duties or currency restrictions. Profits are usually tax free for a set period. Also known as a free trade processing zone and a foreign trade zone. * * * free… …
4foreign trade zone — foreign trade zone, a port or area where foreign goods may be unloaded, stored, and shipped without being subject to customs duties or taxes; free trade area; free port …
5free zone — free zone, free warehouse EU Customs Glossary A territory or premises situated in the customs territory where EU Customs Glossary • import duties and commercial policy measures are suspended for non Community goods, and EU Customs Glossary •… …
6Trade creation — is an economic term related to international economics in which trade is created by the formation of a customs union. Occurrence of Trade Creation When a customs union is formed, the member nations establish a free trade zone amongst themselves… …
7foreign trade zone — Areas within the United States, but outside the customs zone, where foreign merchandise may be brought without formal customs entry and payment of duty for virtually any legal purpose including storage, grading, sampling, cleaning, or packaging.… …
8foreign trade zone — Areas within the United States, but outside the customs zone, where foreign merchandise may be brought without formal customs entry and payment of duty for virtually any legal purpose including storage, grading, sampling, cleaning, or packaging.… …
9Free port — A free port (porto franco) or free zone (US: Foreign Trade Zone) is a port or area with relaxed jurisdiction with respect to the country of location. Free economic zones may also be called free ports. Most commonly a free port is a special… …
10customs union — an association of independent nations or tariff areas created to remove customs barriers between them and to adopt a uniform tariff policy toward nonmember nations. * * * Trade agreement by which a group of countries charges a common set of… …
