free port

free port

free port, port, or section of a port, exempt from customs regulations (see tariff). Goods may be landed at a free port for storage and handling, and they may even be processed into manufactured goods. Duty is charged only if the goods are moved from the free port into the adjacent territory. Free ports originated in the late Middle Ages, when the burdensome tariffs charged by many petty states threatened the reemerging maritime commerce. The high tariffs later levied in the period of mercantilism necessitated additional free ports. In the 19th cent. the danger of smuggling caused the closing of many free ports. In Europe, Copenhagen, Danzig, and Hamburg were free ports until 1939; in East Asia, Hong Kong and Singapore still are. In the United States, bonded warehouses serve some of the functions of the free port, permitting goods to be stored and processed in specially licensed warehouses if a bond exceeding the amount of the customs duties is first posted. In 1934 the Foreign Trade Zones Act authorized the establishment of free ports in the United States, but with a prohibition on manufacturing. The first American free port was opened in New York City in 1937, and others have since been added. Many international airports have free ports.

Area within which goods may be landed, handled, and re-exported freely. The purpose is to remove obstacles to trade and to permit quick turnaround of ships and planes. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to tariffs and customs regulation. Free-trade zones are found around major seaports, international airports, and national frontiers; there are more than 200 such zones in the U.S. alone.

Learn more about free-trade zone with a free trial on Britannica.com.

A free port (porto franco) or free zone (US: Foreign-Trade Zone) is a port or area with relaxed jurisdiction with respect to the country of location. Free economic zones may also be called free ports.

Most commonly a free port is a special customs area with favorable customs regulations (or no customs duties and controls for transshipment). Earlier in history some free ports like Hong Kong enjoyed political autonomy. Many international airports have free ports, though they tend to be called customs areas, customs zones, or international zones.

Free ports and Free Zones by country

Africa

Egypt

Morocco

Mauritius

Asia

Bahrain

Hong Kong, China

Iran

Israel

Japan

Macao, China

Malaysia

Pakistan

Philippines

Singapore

South Korea

Taiwan

Taiwan FTZs

Turkey

United Arab Emirates

Europe

Austria

(part of the European Union)

Belarus

Croatia

Denmark

(part of the European Union)

Finland

(part of the European Union)

  • Free zone of Lappeenranta (Lappeenrannan Vapaa-alue)
  • Freeport of Hanko (Hangon Vapaasatama)

France

(part of the European Union)

  • Free Zone of Verdon - Port de Bordeaux (Zone franche du Verdon — Port de Bordeaux)

Germany

(part of the European Union)

  • Freeport of Hamburg (Freihafen Hamburg)
  • Freeport of Bremen (Freihafen Bremen)
  • Freeport of Bremerhaven (Freihafen Bremerhaven)
  • Freeport of Emden (Freihafen Emden)
  • Freeport of Kiel (Freihafen Kiel)
  • Freeport of Cuxhaven (Freihafen Cuxhaven)
  • Freeport of Deggendorf (Freihafen Deggendorf)
  • Freeport of Duisburg (Freihafen Duisburg)

Georgia

Greece

(part of the European Union)

Ireland

(part of the European Union)

Isle of Man

Italy

(part of the European Union)

  • Livorno, 1675-1860
  • Free Zone of Trieste (Porto franco di Trieste)
  • Free Zone of Venice (Porto franco di Venezia)

Malta

(part of the European Union)

Latvia

(part of the European Union)

Lithuania

(part of the European Union)

Portugal

(part of the European Union)

  • Free Zone of Madeira - Caniçal (Zona franca da Madeira - Caniçal)

Russia

Spain

(part of the European Union)

  • Free zone of Barcelona (Zona franca de Barcelona)
  • Free zone of Cádiz (Zona franca de Cádiz)
  • Free zone of Vigo (Zona franca de Vigo)
  • Free zone of Las Palmas de Gran Canaria (Zona franca de Las Palmas de Gran Canaria)
  • (Ceuta and Melilla are not Free Ports or Free zones because they are parts of Spain, but not part of the European union for customs and excises)

Sweden

(part of the European Union)

  • Marstrand, 17th century
  • Saint-Barthélemy, 1785-1878

Turkey

Ukraine

  • free port and free economic zone Odessa
    • 1819-1858
    • Trade sea port of Odessa, January 1, 2000 for 25 years

United Kingdom

(part of the European Union)

The Americas

Argentina

Bermuda

Brazil

Chile

Dominican Republic

  • Mega Port of Punta Caucedo

http://strategis.ic.gc.ca/epic/internet/inimr-ri.nsf/en/gr115831e.html http://www.port-technology.com/projects/caucedo/

Nicaragua

Panama

Uruguay

U.S.

Venezuela

See also

External links

Search another word or see free porton Dictionary | Thesaurus |Spanish
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature
FAVORITES
RECENT

;