A "free zone" in terms of international trade refers to a designated area within a country where certain trade activities are exempted from custom duties, taxes, and regulations that are applicable in the host country. These areas are created to attract foreign investment, promote trade, and boost economic growth by providing businesses with various incentives and benefits. Free zones often have simplified customs procedures, streamlined business regulations, and favorable tax regimes to encourage international trade and attract foreign companies. Additionally, they may offer facilities such as warehouses, logistics services, and infrastructure to support trade activities within the zone.
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A "free zone" in international trade is a designated area within a country that offers incentives and exemptions from customs duties, taxes, and regulations. They aim to attract foreign investment, promote trade, and boost economic growth.
