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Share your thoughts on Foreign Trade Zones and why are they important to Global Supply Markets?...

Share your thoughts on Foreign Trade Zones and why are they important to Global Supply Markets? Can companies serve as Foreign Trade Zones?

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Answer #1

Foreign Trade Zones are a great way to promote free trade across borders with very little or almost no cost of the transaction while carrying out a cross-border trade. They are important to Global Supply Markets because they help in reducing clearance time of goods during transit and thus making trade more efficient(both monetary and time efficiency). No particular company can serve as Foreign Trade Zones. It is only a group of companies that act as free trade zones.

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