Foreign Trade Zone
E572706
A Foreign Trade Zone is a designated area within a country, typically near a port or airport, where imported goods can be stored, processed, or manufactured under special customs regulations and reduced tariffs before entering domestic commerce.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
customs territory
ⓘ
special economic zone ⓘ trade facilitation measure ⓘ |
| appliesTo |
goods in transit
ⓘ
goods intended for re-export ⓘ imported goods ⓘ |
| differsFrom | domestic customs territory where duties are payable upon import ⓘ |
| enables |
avoidance of duties on waste, scrap, or re-exported goods
ⓘ
bonded warehousing of goods ⓘ deferral of customs duties until goods enter domestic commerce ⓘ reduction of tariffs based on final product classification ⓘ value-added activities such as assembly and packaging ⓘ |
| hasBenefit |
improved cash flow for companies through duty deferral
ⓘ
increased competitiveness of domestic operations in global supply chains ⓘ reduced inventory carrying costs related to customs duties ⓘ |
| hasCharacteristic |
allows manufacturing activities using imported inputs
ⓘ
allows processing of imported goods under customs control ⓘ allows storage of imported goods without immediate payment of customs duties ⓘ facilitates re-export of goods without entering domestic commerce ⓘ located within national borders but treated as outside the customs territory for certain purposes ⓘ may offer duty deferral ⓘ may offer duty elimination on re-exports ⓘ may offer reduced tariffs ⓘ often located near airports ⓘ subject to special customs regulations ⓘ typically situated near seaports ⓘ |
| hasDefinition | a designated area within a country where imported goods can be stored, processed, or manufactured under special customs regulations before entering domestic commerce ⓘ |
| hasPurpose |
to attract foreign investment
ⓘ
to enhance logistics efficiency ⓘ to promote international trade ⓘ to reduce customs-related costs for businesses ⓘ to support export-oriented manufacturing ⓘ |
| hasRisk | potential for customs non-compliance if controls are weak ⓘ |
| mayInclude |
distribution centers
ⓘ
manufacturing facilities ⓘ warehouses ⓘ |
| regulatedBy |
national customs authorities
ⓘ
national trade laws ⓘ specific zone legislation in each country ⓘ |
| relatedTo |
bonded warehouse
ⓘ
export processing zone ⓘ free trade zone ⓘ special economic zone ⓘ |
| requires |
authorization from government authorities
ⓘ
compliance with customs security and record-keeping requirements ⓘ |
| usedBy |
exporters
ⓘ
importers ⓘ logistics companies ⓘ manufacturing firms ⓘ multinational corporations ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.