Free Trade Zone

Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order it here)

A port designated by the government of a country for duty-free entry of any non-prohibited goods.  In the zone, merchandise can be stored, displayed, and used for manufacEagle Tradersg within the zone and re-exported without duties being paid.  Duties are imposed on the merchandise when the goods pass from the zone into an area of the country subject to the customs authority.

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