Free Trade Zone (ftz) Definition

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Definition Of Free Trade Zone (ftz):

Airport, seaport, or any other designated area for duty-free import of raw materials, components, sub-assemblies, semi-finished or finished goods.
Such items can be stored, displayed, assembled, or processed for re-export or entry into the general market of the importing country (after paying the required duties). Also called foreign trade Zone or free zone.

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