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Question on Belize FTZ #24460
08/17/00 05:41 PM
08/17/00 05:41 PM
Joined: Apr 2000
Posts: 156
Rancho Mirage, Ca.USA/changing...
M
Marvel Offline OP
 
Marvel  Offline OP
M
What does a free trade zone really mean? And how does it benefit a business. Where is it and why do they have it?

Re: Question on Belize FTZ #24461
08/17/00 09:28 PM
08/17/00 09:28 PM
Joined: Aug 2000
Posts: 222
Culpeper VA
patrick-e Offline
 
patrick-e  Offline
Marvel, In the US, a free trade zone is a small geographic area into which products can be imported duty-free for further processing or for storage until they are re-exported. Some fo the benefits are (1) not paying duty on the imports until you sell, (2) in some cases (as in the auto industry), parts that would normally be dutiable at 5%, can be imported and converted to another classification that has a lower duty rate, thereby saving the importer some money. The FTZ's are supposed to stimulate commerce. Most likely, Belize has similar laws to the US. That's a thumb-nail sketch of the Free Trade Zone concept.

Re: Question on Belize FTZ #24462
08/17/00 10:12 PM
08/17/00 10:12 PM
Joined: Apr 2000
Posts: 7,057
South Texas
Chloe Offline
.
Chloe  Offline
Patrick very nice concise description of FTZ.


Dare To Deviate
Re: Question on Belize FTZ #24463
08/18/00 12:18 PM
08/18/00 12:18 PM
Joined: Apr 2000
Posts: 156
Rancho Mirage, Ca.USA/changing...
M
Marvel Offline OP
 
Marvel  Offline OP
M
Thank you! I thought that was it but need a clarification.


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