Free trade zone (FTZ),
Definition of Free trade zone (FTZ):
An economic zone consists of a group of countries that allow free trade agreements between them, such as free trade zones, customs unions.
The purpose of airports, ports or other areas is to import raw materials, components, assemblies, semi-finished products or finished products without any tax. These goods can be re-exported, stored, displayed, assembled or processed, or placed in the general market of the importing country (after paying the normal fee). It is also called foreign trade zone or free zone.
A geographical area of a country that is subject to certain economic laws that are less stringent than those that govern other parts of the country and where importers and producers are exempt from taxes, regulations, etc.
How to use Free trade zone (FTZ) in a sentence?
- I like working in a free trade zone because it allows me to do things that were not possible in my country before.
- The free zone should be a place for international delivery, so we prepare our team and wait there.
- When you are in the free zone, you can find great deals on products because they are not taxed.
Meaning of Free trade zone (FTZ) & Free trade zone (FTZ) Definition
