freeport
English
[edit]Noun
[edit]freeport (plural freeports)
- Alternative form of free port
- 2021 March 24, “Network News: What is a freeport?”, in RAIL, number 927, page 15:
- Freeports, which can be airports and maritime ports, are a special kind of port where normal tax and customs regulations do not apply. [...] Businesses operating inside the designated areas in and around the port can manufacture goods using these imports and add value, before exporting again without ever facing full tariffs or procedures. Should the goods move out of the freeport into another part of the country, then they must go through the full import process - including paying any tariffs.