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Q.

What is the difference between Industrial Zone and Special Economic Zone?

Tags: money, news & events, politics & government
Asked by Sharmila Bose, 27 Jun '12 06:40 pm
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Answers (1)

1.

A free trade zone (FTZ) , also called foreign-trade zone, formerly free port is an area within which goods may be landed, handled, manufactured or reconfigured, and reexported without the intervention of the customs authorities. Only when the goods are moved to consumers within the country in which the zone is located do they become subject to the prevailing customs duties. Free-trade zones are organized around major seaports, international airports, and national frontiersareas with many geographic advantages for trade.

A Special Economic Zone (SEZ) is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws. "Nationwide" laws may be suspended inside a special economic zone.

The category 'SEZ' covers a broad range of more specific zone types, including Free Trade Zones (FTZ), Export Processing Zones (EPZ), Free Zones (FZ), Industrial parks or Industrial Estates (IE), Free Ports, Urban Enterprise Zones and ...more
Answered by Prince Deva, 27 Jun '12 06:42 pm

 
  
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