21 October 2019
Free Trade Zones (FTZs) can offer important economic benefits for host countries and hosted companies, alike, but they can also contribute to trade in fake goods and other illicit activities.
There are more than 3,500 free trade zones, often located at key ports, in 130 countries or economies in North and South America, the Asia-Pacific region, Europe and Africa, up from just 79 spread across 25 countries or economies in 1975. The special zones facilitate trade by offering businesses advantageous tariffs and lighter regulation on financing, ownership, labour and immigration, and taxes. They have helped emerging economies to attract foreign investment and generate jobs and growth.
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