free trade zone

Definition of "free trade zone"
  1. A designated area authorized by a government where goods can be stored, used, or manufactured without paying customs duties and can be re-exported
How to use "free trade zone" in a sentence
  1. Goods which are imported into the free trade zone are exempt from customs duties.
  2. The company decided to set up its manufacturing unit in the free trade zone to avoid import duties.
  3. Many companies use a free trade zone to conduct their business operations without paying customs duties on imported goods.

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