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Kuwait's free trade zone (FTZ) was formally established in 1999 to expand businesses and lure the export industry. The zone was located in the western part of the commercial port of Shuwaikh. It was the only free trade zone in the country. In 2019, the Council of Ministers cancelled the free-zone, leaving Kuwait without a special economic zone.
See also: List of special economic zones and List of free-trade zones In special economic zones business and trades laws differ from the rest of the country. The term, and a number of other terms, can have different specific meanings in different countries and publications. Often they have relaxed jurisdiction of customs or related national regulations. They can be ports or other large areas ...
A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other. If natural persons are also free to move ...
Centenary Economic City. Enugu Industrial Park (Free Zone Status), also known as, ENPOWER [ 6] Kano Free Trade Zone. Ibom Science & Technology Park Free Zone. Lekki Free Trade Zone. Maigatari Border Free Trade Zone. Nigeria International Commerce city. Onne Oil and Gas Free Trade Zone. Ogun-Guangdong Free Trade Zone.
Free trade areas between groups of countries, such as the European Economic Area and the Mercosur open markets, establish a free trade zone among members while creating a protectionist barrier between that free trade area and the rest of the world.
The Regional Comprehensive Economic Partnership ( RCEP / ˈɑːrsɛp / AR-sep) is a free trade agreement among the Asia-Pacific countries of Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. [ 2] The 15 member countries account for about 30 ...
The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones. [2] Some special economic zones are called free ports. Sometimes they have historically been endowed with favorable customs regulations, such as the free port of Trieste.
The Colón Free Trade Zone is the largest free port in the Americas, and second largest in the world. [ 1] It started operations in 1948 and occupies about 2.4 km 2 (600 acres). It is divided in two large areas: one located in Colón, segregated from the city by a wall, and the other relatively new, in the harbor area, which is designated for ...