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Foreign – Trade Zones
Foreign-trade zones (FTZs) are secure areas that are generally considered to be outside U.S. customs territory for duty assessments and other customs entry procedures. Specifically, zones are physical areas into which foreign and domestic merchandise may be moved for lawful operations, including storage, exhibition, assembly, manufacture, or processing.
Foreign-trade zones offer a range of financial benefits to companies by allowing them to reduce, eliminate, or defer duty payments on goods manufactured or stored in FTZs before they enter U.S. commerce or are exported.
FTZs are licensed by the Foreign-Trade Zones Board and operated under the supervision of CBP.
A new white paper from Purolator International, Foreign – Trade Zones, provides an overview of key benefits of utilizing FTZs, which may offer duty savings and logistic efficiency.
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