free zone


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Related to free zone: Free trade zone

free zone

An area where merchandise, whether of domestic or foreign origin, may be admitted, deposited, stored, packed, exhibited, sold, processed, or manufactured. This merchandise may be removed to a point outside the territory of the state without being subjected to customs duties, internal consumer taxes, or inspection except for reasons of aviation security or appropriate narcotics control measures. Merchandise of domestic origin admitted into a free zone may be considered exported. When removed from a free zone into the territory of the state, the merchandise is subjected to customs and other required entry procedures.
References in periodicals archive ?
Meanwhile, the first Gwadar International Expo was kicked off in the free zone and has attracted businessmen from Iran, China, Afghanistan, Saudi Arabia and Oman, said the operator.
He added, "The DP World group continues to attract more foreign investments and maintain the competitiveness of the port and the free zone globally with focus on innovative development of the global supply chain to strengthen the country's position as a regional and global business hub, facilitate trade movement and open up new markets for companies operating from the Free Zone in Dubai.
the free zone has touched 160 from different nationalities.
This is while, according to Karimi, the reason behind the creation of free zones was to encourage production by giving tax discounts and legal exemptions to production and exports.
The minister added that the government's priority is to support investors in free zones amid strict rules to prevent corruption.
In addition, the discussion will also shed light on importance of free zones as innovation hubs and highlight the challenges and issued faced by these trade zones, it said.
We are confident that, with continued support from Hamriyah Free Zone and our staff, we will achieve our goals.
Al Zarooni pointed out to the huge developments in Dubai's free zones thanks to the unlimited support from His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and the governmental and logistic facilities offered by the government to companies and investors.
He pointed out that free zone orientations about global expansion are well planned to ensure their integration with local operations and customers needs and comes in line with the overall vision, set by senior leadership in this respect.
If your customers and suppliers are located outside of the UAE, then any free zone that can license your activity will work for you.
Regarding trade volume, Al Qudah pointed out that the total of exported goods from the free zones to foreign and domestic markets stood at JD135 million in June, of which JD92 million went to foreign markets and JD43 million to the local market.
Exporting outside of a free zone (including GCC and GAFTA states)