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What is the free port ?

Update Date:2019-4-19 17:14:00     Source:www.3737580.com     Views:548

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Usually ,we think that the imported merchandise may be stored duty-free pending re-export or duty-paid entry into the importing country in this free-trade zone around a port area. Examples are Hong Kong, Isla Margarita, Panama, and Singapore.

 

What is the free port ? the  definition for free port 
Free port ‘s meaning in dictionary is :A port or an area of a port in which imported goods can be held or processed free of customs duties before reexport.


Free port advantages :
For investors , it is important to choose the best location for their Freeport activities and centralized distribution system. The Freeport provides the ideal platform for a warehousing, manufacturing, processing and distribution hub, combining the services  and highly qualified labour forces and offers investors extremely attractive incentives.


Policies about Duty Free 
Adopted an export-oriented manufacturing strategy in the Freeport with attractive incentives thus making the country or area to be known being a reliable and competitive supplier for manufactured goods. While setting up a manufacturing unit in the Freeport, it will gain access to duty free markets through the regional trade agreements .

Polices Strategic Location 
Mostly the freeports is strategically located and is the natural gateway to different countries. Being on a major sea route, Freeport is serving as a bridge between different markets.  Freeport is today capitalizing on this strategic location and is acting as a transshipment base for cargo destined for global countries.

Well Established Sea And Air Connections
The combination of Sea-Air activities enables international trading companies to optimize their logistics costs and speed up the delivery of their goods. By using the Freeport intermodal platform, goods imported by sea can be dispatched rapidly by air via the Freeport logistics platform located at the International Airport. Goods can be transferred from other place to the convenient destination.

 

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