free economic zones

UK government have announced the introduction of new Freeports that may act as hubs for global trade and investment in the UK. These so-called “Free Zones” are special economic customs zones located within a Freeport in the UK. Exclusive customs, VAT and excise rules apply within the Free Zone, making it easier or more cost efficient for operators to import, store and process imported goods in these zones. The aim of the new measure is to create new jobs and reduce administrative burdens, thus accelerating the UK economy by an estimated 3bn pounds. In total, the following 8 location as Free Zones shall be created in the UK. East Midlands Airport Felixstowe and Harwich Humber Liverpool City Region Plymouth and South Devon Solent Teesside Thames

  More images Free economic zone Description Free economic zones, free economic territories or free zones are a class of special economic zone designated by the trade and commerce administrations of various countries. The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity. Free economic zones (FEZ), free economic territories (FETs) or free zones (FZ) are  a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries . The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity.