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