Foreign Trade Zones

Foreign Trade Zones (FTZs) are designated areas in a country, typically near ports or airports, where goods can be imported, handled, and stored without the usual customs duties and regulations. Within these zones, businesses can process, assemble, or manufacture products without paying duties until the goods leave the zone and enter the domestic market. This system benefits companies by reducing costs and increasing efficiency, allowing them to compete more effectively in the global market. FTZs encourage foreign investment and can boost local economies, making them valuable tools for international trade.