Free Trade Zone (FTZ)

Tags: Glossary

Also known as an export processing zone (EPZ), one or more special areas ofa country where some normal tradebarriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes ofattracting new business and foreign investments. Free trade zones can be defined as labor intensive manufacturing centers that involvethe import ofraw materials or components and the export of factory products.

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