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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 from the Cambridge Business English Dictionary © Cambridge University Press)
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