free port


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Free Port

A port where ships can dock and unload goods without paying tariffs or other fees on those goods. The goods can be held duty-free at the free port for a certain period of time, though generally they must be re-exported at the end of the period. Free ports may be used to make final improvements on unfinished goods.

free port

see FREE TRADE ZONE.
References in periodicals archive ?
The meetings come just days after Prime Minister Theresa May told the Commons Mr Houchen had been a vocal advocate for free port status, and that the Government would remain open to any ideas to drive growth.
Currently, the EU Customs Union and EU state aid law prevents the creation of a free port, but a post-Brexit Britain presents the opportunity to capitalise on the idea, which will attract further investment, jobs and create a stronger regional and national economy.
In April, Russian President Vladimir Putin said the development of the Far East regions is a priority for the Russian government, urging the administration of the Primorsky Territory to accelerate the creation of a free port, on which a legislation would be adopted by the State Duma during the spring session.
The largest piece of the infrastructure equipment had a weight of 1,531 tonnes, width of 12 m and length of 116 m - the longest piece that has ever been received in the Free Port, the statement said.
The new facility completes our offerings in the Free Port and will significantly facilitate trade.
It has been set up to provide a support to the Abu Dhabi and UAE marine sector and complements ADPC's service offerings in the Free Port, it said.
The categories of goods eligible for subsidy include those that are wholly grown or produced in Mauritius, those that are exported under an Indian Ocean Commission (IOC), COMESA or SADC certificate of origin and all other goods exported that have been locally manufactured or produced in Mauritius, including those manufactured or processed in a free port zone, wholly or partially from imported materials by a process of manufacture or production.
Speaking after receiving a briefing on the Gwadar-Kashgar project, Prime Minister Sharif said there would be several advantages of declaring Gwadar a free port.
At a meeting between head of Culture-Art Association of Iranian-Australians and managing director of Chabahr Free Zone Organization, the two sides agreed on expansion of joint investments in the free port.
The container terminals and their respective management companies are: Kingston Container Terminal, managed by APM terminals; Free Port Bahamas, managed by Hutchinson Port Holdings; Port of Spain, Trinidad, managed by Portia Management Services Ltd.
Valdez is the northernmost year-round ice free port in America, and this year we had a special guest to observe operations, Col.
Three of the ports will remain to function as free port area namely Kabil, Batu Ampar and Skupang.