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Review:

Free Trade Zones

overall review score: 4.5
score is between 0 and 5
Free-trade zones are designated areas within a country where goods can be imported, manufactured, and re-exported without being subject to normal trade barriers and customs duties.

Key Features

  • Duty-free import of raw materials and machinery
  • Exemption from certain taxes and tariffs
  • Streamlined customs procedures
  • Opportunities for foreign investment
  • Promotion of trade and economic growth

Pros

  • Stimulates economic development
  • Attracts foreign investment
  • Boosts international trade
  • Creates job opportunities

Cons

  • Potential for exploitation by multinational corporations
  • May lead to environmental degradation
  • Can create unfair competition for local businesses

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Last updated: Wed, Jan 8, 2025, 11:25:47 PM UTC