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.
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Date: October 08, 2013 GAO Hucheng Granted an Interview to Media on Setting-Up China (Shanghai) Pilot Free Trade Zone
Oct 08, 2013; BEIJING, China -- The following information was released by the Ministry of Commerce of the People's Republic of China: Gao...