What is a “free zone” in terms of international trade?

short answer

A "free zone" in terms of international trade refers to a designated area within a country where goods can be imported, stored, processed, and re-exported without being subjected to traditional customs formalities and tariffs. These zones are usually established to promote foreign investment, encourage trade, and boost economic activities. They offer special tax and customs incentives, streamlined regulations, and infrastructure facilities to attract businesses and facilitate global commerce.