Article Title: Foreign Trade Zones Source: web reading and going over chapter 17, I learned a lot but what most interesting is that the field that I work in which is a Logistic Company and we export and import shipments all day long. We do lots from holding goods and receiving and shipping out goods to the Georgia Port Authority and we do custom paperwork. So this was very enlightening to me and there was lots of information on the internet. I choose this article because of the homework assignment that was given to us and I think that it was great information to anyone learning about FTZs. Foreign trade zones (FTZs) are designated sites where special customs procedures apply. Foreign trade zones in the United States are comparable to so-called free trade zones in many countries, though procedures vary widely from country to country.
FTZs allow domestic activity involving foreign items to take place as if it were outside the customs territory of the United States for duty payment purposes, thus offsetting customs advantages available to overseas producers who export in competition with products made in the United States. WHAT IS AN FTZ? A foreign trade zone is a restricted access site authorized by the Foreign-Trade Zones Board, which consists of the treasury and commerce secretaries (the secretary of commerce chairs the board).
... in-depth reform. a free trade zone also called foreign trade zone or a free port,with the intervention of customs authorities with in this area ... A free trade zone (FTZ) or export processing zone (EPZ), also called foreign-trade zone, formerly free port, is an area within which goods may ...
FTZs, upon activation under regulations of the U. S.
Customs Service, are secure areas under U. S. Customs supervision. These zones are at or near U.
S. Customs ports of entry. Formal customs entry procedures don.