free trade zone (FTZ)

Popular Terms
Airport, seaport, or any other designated area for duty-free import of raw materials, components, sub-assemblies, semi-finished or finished goods. Such items can be stored, displayed, assembled, or processed for re-export or entry into the general market of the importing country (after paying the required duties). Also called foreign trade Zone or free zone.

Use 'free trade zone (FTZ)' in a Sentence

When you are in a free trade zone you can find some great deals on products because no one is taxing them.
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The free trade zone was to be the location of the international goods transfer so we had our team ready and waiting there.
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I was glad to work within the free trade zone, because it allowed me to do things I could not do before in my home country.
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