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free port |
Also found in: Acronyms, Encyclopedia, Wikipedia | 0.09 sec. |
free portPort or sometimes a zone within a port, where cargo may be accepted for handling, processing, and reshipment without the imposition of tariffs or taxes. Duties and tax become payable only if the products are for consumption in the country to which the free port belongs. Free ports are established to take advantage of a location with good trade links. They facilitate the quick entry and departure of ships, unhampered by lengthy customs regulations. Important free ports include Singapore, Copenhagen, New York, Gdańsk, Macau, San Francisco, and Seattle. |
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For Palmdale, Runner's measure notes the runways and facilities available at Air Force Plant 42 and the tax breaks available through the Antelope Valley foreign-trade zone. has been appointed to the board of the Georgia Foreign-Trade Zone (GFTZ), which establishes and maintains federally approved foreign-trade zones in the state. It imports parts from over 12 countries around the world for assembly in its just-in-time facility and controls over 1,400 distinct foreign parts in its foreign-trade zone operation. |
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Foreign-trade zone
