Free Trade Zone

Spanish Translation of free trade zone

This is the legal translation of English to Spanish in relation to free trade zone and / or a definition of this topic: Zona de Libre Comercio (in Spanish, without translation of the dictionary entry).

Free Trade Zone and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Free Trade Zone: (Not to be confused with a free trade area or FTA.) A designated area within a country in which goods can be imported, stored, or processed without being subject to customs duties and taxes. Also known as a “foreign trade zone,” a “free port,” or a “bonded warehouse.” See alsotransit lone and export processing lone.”

Free Trade Zone in International Trade

Meaning of Free Trade Zone, according to the Dictionary of International Trade (Global Negotiator): Special commercial and industrial area in or near ports of entry where foreign and domestic merchandise may be brought in without being subject to payment of customs duties. Merchandise including raw materials, components and finished goods, may be stored, sold, exhibited, repacked, assembled, sorted, graded, cleaned or otherwise manipulated prior to re-export or entry into the national customs authority. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the goods pass from the zone into an area of the country subject to the customs. Foreign trade zones are also called foreign free zones, free ports or bonded warehouses.