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Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
Kuwait's free trade zone (FTZ) was formally established in 1999 to expand businesses and lure the export industry. The zone was located in the western part of the commercial port of Shuwaikh. It was the only free trade zone in the country. In 2019, the Council of Ministers cancelled the free-zone, leaving Kuwait without a special economic zone ...
Singapore Customs became the lead agency on trade facilitation and revenue enforcement matters. It is also responsible for the implementation of customs and trade enforcement measures including those related to Free Trade Agreements and strategic goods. The headquarters is located in Revenue House along Newton Road, Novena.
The industrial park is a free trade zone.The park was created in 2003 and officially opened by Minister for Transport, Yeo Cheow Tong on 20 March that year. [3] The project was a joint venture between the Civil Aviation Authority of Singapore, the airport operator, and JTC Corporation, the largest industrial land developer in the country. [4]
The definition of an SEZ is determined individually by each country. According to the World Bank in 2008, the modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and ...
ASEAN–Australia–New Zealand Free Trade Area (AANZFTA) is a free trade area between ASEAN and ANZCERTA that was signed on 27 February 2009 and came into effect on 1 January 2010. Details of the AANZFTA agreement are available online. [27] ASEAN–China Free Trade Area (ACFTA), in effect as of 1 January 2010 [28]
Free-trade area; Currency union; Customs union; ... establish a free trade zone among members while creating a protectionist ... Singapore is the top country in ...
Area: 127 Hectares Free Trade Zone, 28 Hectares non-Free Trade Zone; Warehouse facilities: 178,000 m 2; PSA Singapore also has a 40-year contract to operate the tax-free Gwadar Port on the southwestern coast of Pakistan. Gwadar started operation in March 2008, with 3 multi-purpose berths, a 602-meter quay, and 12.5-meter depth.