free trade zone
noun[C]
ECONOMICS,COMMERCEukus(abbreviationFTZ);(alsofree zone);(free port)aspecialareawithin acountrywhereforeigncompaniescanimportmaterials,manufacturegoods,exportproducts, etc. without beinglimitedby theusualrulesandtaxes:
Theislandwasdesignateda free-tradezonein thehopesofattractingforeigninvestment.
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free trade area