The U.S. Foreign-Trade Zones (FTZ) program was created by the Foreign-Trade Zones Act of 1934 to encourage foreign commerce in the United States, and to make U.S operations more competitive in international markets. These zones are defined as geographic areas adjacent to a U.S. port of entry, where foreign and domestic commercial merchandise receives the same Customs treatment as it would outside the United States. There are a number of benefits associated with FTZs, including inverted tariffs (the ability to pay the lower of two possible duties), duty-free services of product inspection, testing and re-packaging, a cap on merchandise processing fees and the reduction or elimination of some additional fees paid to U.S. Customs. Today, there are more than 230 U.S. FTZ projects.
Secure Hub to Spur Global Business Activity in the Middle East
Safe Ports Regional Gateway, a 1,000-acre site in Jordan intended to serve as a thriving hub for global businesses looking to become involved in the growing opportunities available throughout the Middle East, was announced at a signing ceremony in Amman including leaders of its three partners – Mafraq Development Corporation (MDC) of Jordan; Safe Ports,… Read More
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