Free zones: types and benefits for business

Customs Compliance & Risk Management, Issue 21, June / July 2023
Mark Rowbotham
Mark Rowbotham
Customs, Excise & VAT Consultant, PORTCULLIS ISC, United Kingdom of Great Britain and Northern Ireland
Published 30 Jul 2023
Free zones: types and benefits for business

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Free zone development differs from one country to another. Different countries use different types and concepts of free zones. In some countries, Free Zones are developed to stimulate incoming trade, as in the case of the US Foreign-Trade Zones (FTZs), while in others, such as developing countries, they exist to stimulate export-oriented trade. In this article, we overview the various types of free zones and the benefits they provide for business. Editors' note: Mark Rowbotham, the author of this article, is the author of the book "Freeports and Free Zones: Operations and Regulation in the Global Economy".