Free Trade Zone

Gada Special Economic Zone has allocated 168.09 hectares of land for Free Trade Zone in zone to stimulate international trade and investment by reducing or eliminating trade barriers such as tariffs and complex customs procedures. These zones offer businesses benefits like reduced costs, faster processing of goods, and opportunities for manufacturing, storage, and re-export with fewer restrictions.

A free trade zone (FTZ) is a type of special economic zone (SEZ) that focuses on facilitating trade and commerce, often located near ports or borders. It’s a designated area where goods can be imported and exported without the usual customs duties and bureaucratic processes. Gada Special Economic Zone Free Trade Zone is a prominent example, aiming to boost economic activity and attract foreign investment.

• FTZ

is a specific type of SEZ that primarily focuses on trade and logistics, offering duty-free zones for warehousing, storage, and distribution.

• Key Features of FTZs:
• Duty-free import and export: Goods can be imported into an FTZ without paying import duties, and exported without paying export duties.
• Simplified customs procedures: FTZs streamline customs processes, reducing paperwork and delays.
• Focus on trade and logistics: FTZs are often located near major ports, airports, or border crossings, facilitating the movement of goods.
• Warehousing and distribution: FTZs provide facilities for storing, handling, and distributing goods.