free trade zone

free trade zone definition - business

free trade zone

A geographic area, often near a port or airport, where goods can be imported, stored, improved, and exported without duties. Duties are required only if and when goods in the free trade zone enter into commerce in the host country. Also called free port. See also transit zone.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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