Foreign Trade Zone

Definition of "Foreign Trade Zone"
  1. A government-controlled free port where merchandise, apart from prohibited items, can be stored without being subjected to import duty rules
How to use "Foreign Trade Zone" in a sentence
  1. Clothing manufacturers often store their imported fabrics tax-free in the Foreign Trade Zone.
  2. The Foreign Trade Zone allows companies to streamline their operations by deferring, reducing, or even eliminating customs duties.
  3. Setting up a business inside the Foreign Trade Zone can help to avoid import duty charges.
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