Introduction to free trade zones in the world

Have you ever wondered if there is a place where tariff policy does not work between countries? That place is called the Free Trade Zones

Countries have generally abolished tariffs and non-tariff trade obstacles between members but no shared trade policy with non-members.

WHAT ARE FREE TRADE ZONES?

They are a type of Special Economic Zone (SEZ) in which trade-related levies, such as customs and taxes, are waived.Goods that are made, stored, and handled in these locations are subject to a variety of customs preferences. Reliefs and incentives are frequently offered to stimulate investment.

The following are some of the advantages of this location:

• Promotes business and trade possibilities.
• Reduces red tape and bureaucratic formalities while keeping logistics costs low
• Increase your profits in foreign currency
• Opportunities for work are created.
• Investments are attracted.

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