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Definition of Export processing zone

Export processing zone Definition from Sports Dictionaries & Glossaries
maritime&shipping&trade
Industrial parks designated by a government to provide tax and other incentives to export firms
Export processing zone Definition from Encyclopedia Dictionaries & Glossaries
Wikipedia English - The Free Encyclopedia
A free trade zone (FTZ) is a specific class of special economic zone. They are a geographic area where goods may be landed, handled, manufactured or reconfigured, and reexported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties. Free-trade zones are organized around major seaports, international airports, and national frontiers—areas with many geographic advantages for trade. It is a region where a group of countries has agreed to reduce or eliminate trade barriers. Free trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products.

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