Glossary
Free Trade Zone (FZ)
A port, city, or region designated by the government of a country for free trade.
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What is a Free Trade Zone (FZ)?
A Free Trade Zone (FZ) is an area set up in a country to allow duty-free import of goods. This means that goods imported into the Free Trade Zone are exempt from certain taxes and tariffs. It is also known as a Foreign Trade Zone.
Free Trade Zones provide a number of benefits to businesses, including reduced costs, increased efficiency, and lower overhead. Free Trade Zones are typically located near ports or airports and are used for storage, assembly, manufacturing, and distribution of goods. They are often used by multinational companies that need to move goods between different countries quickly and cheaply.
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