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English definition of “free trade zone”

free trade zone

noun [C]     ( abbreviation FTZ, also free zone, free port) ECONOMICS, COMMERCE
a special area within a country where foreign companies can import materials , manufacture goods , export products , etc. without being limited by the usual rules and taxes : The island was designated a free-trade zone in the hopes of attracting foreign investment . → Compare free trade area
(Definition of free trade zone noun from the Cambridge Business English Dictionary © Cambridge University Press)
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