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Free economic zone

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Geographic locations of the Free Economic Zones as of 2012

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. The taxation rules are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones.

Some special economic zones are called free ports. Sometimes these have historically been endowed with favorable customs regulations, such as with the free port of Trieste. In recent years the free port system has been accused of facilitating international art crime, allowing stolen artworks to remain undetected in storage for decades.[1]

DefinitionEdit

According to the 1999 Revised Kyoto Convention, a "'free zone' means a part of the territory of a contracting party where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as being outside the customs territory."[2]

HistoryEdit

An early type of special economic zone was free ports, these historically were endowed with favorable customs regulations. In modern times free port has come to mean a specific type of special economic zone, for example LADOL. All "free ports" in the world are permitted by the respective States, save the Free Port of Trieste that with the signing of the 16th Resolution of the Security Council of the United Nations [3] (10 January 1947) and the signing of the Treaty of Peace with Italy (10 February 1947, ratified 15 September 1947) were put territorially under the sovereignty of the United Nations itself. As cited on Annex VIII, Article 3 paragraph 2 : "The establishment of special zones in the Free Port under the exclusive jurisdiction of any State is incompatible with the status of the Free Territory and of the Free Port". For example, it is not possible to apply the "Italian Law on Ports" in the extraterritorial free zones of the UN Free Port of Trieste with the effect that all actual territorial concessions are null and void.

List of free economic zones by countryEdit

AlbaniaEdit

ArgentinaEdit

ArmeniaEdit

BangladeshEdit

Bangladesh Export Processing Zone Authority

BelarusEdit

BoliviaEdit

  • Cobija Free Economic Zone (Zona Franca de Cobija, in Spanish)[8]

BrazilEdit

BulgariaEdit

ChileEdit

ChinaEdit

EgyptEdit

  • Port Said Public Free Zone
  • Alexandria Public Free Zone
  • Nasr City Public Free Zone
  • Suez Public Free Zone
  • Ismailia Public Free Zone
  • Damietta Public Free Zone
  • Media Public Free Zone
  • Shebin El- Kom Public Free Zone
  • Qeft Public Free Zone
  • Port Said East Port Public Free Zone

FranceEdit

GeorgiaEdit

GermanyEdit

GhanaEdit

  • Tema, Free Zone Enclave

IndiaEdit

IranEdit

IraqEdit

  • Sulaymaniyah Free Zone

IrelandEdit

ItalyEdit

South KoreaEdit

LatviaEdit

LithuaniaEdit

NigeriaEdit

North MacedoniaEdit

  • Free Economic Zone Skopje 1[30]
  • Free Economic Zone Skopje 2[30]
  • Free Economic Zone Stip[30]
  • Free Economic Zone Tetovo[30]

MalaysiaEdit

MoldovaEdit

MongoliaEdit

MoroccoEdit

NorwayEdit

OmanEdit

PakistanEdit

PeruEdit

  • Tacna Free Economic Zone (Zona Franca de Tacna, in Spanish)[36]

PhilippinesEdit

QatarEdit

Qatar has free zones and Special Economic Zones with differing laws on taxation and corporate ownership

RussiaEdit

In Russia there are only Special Economic Zones

Technical/Innovational Zones

Industrial/developmental Zones

Tourist Zones

SerbiaEdit

Serbia has 14 free economic zones as of September 2017;[38] these are:[38]

  • Free Zone Apatin
  • Free Zone FAS-Kragujevac
  • Free Zone Kruševac
  • Free Zone Niš-South
  • Free Zone Novi Sad
  • Free Zone Pirot
  • Free Zone Priboj
  • Free Zone Smederevo
  • Free Zone Subotica
  • Free Zone Svilajnac
  • Free Zone Šabac
  • Free Zone Užice
  • Free Zone Vranje
  • Free Zone Zrenjanin

SpainEdit

SomalilandEdit

  • Berbera Free Zone DP World BFZ[39]

SwitzerlandEdit

TajikistanEdit

TurkeyEdit

TurkmenistanEdit

UkraineEdit

United Arab EmiratesEdit

United KingdomEdit

United StatesEdit

VietnamEdit

YemenEdit

See alsoEdit

ReferencesEdit

  1. ^ "Experts identify top six scandals amid boom in art crime". The Art Newspaper. 1 July 2015.
  2. ^ Revised Kyoto Convention 1999.
  3. ^ "S/RES/16(1947) - E - S/RES/16(1947)". undocs.org.
  4. ^ "Technical And Economic Development Areas - Official website of TEDAs in Albania". Retrieved 12 May 2016.
  5. ^ "BIS ALBANIA GROUP". Retrieved 12 May 2016.
  6. ^ "ALTAX - LAW. TAX. TRANSPARENCY". 6 May 2016. Archived from the original on 26 May 2016. Retrieved 12 May 2016.
  7. ^ "Zona Franca General Pico". Retrieved 12 May 2016.
  8. ^ "Inicio". Zofra Cobija. November 2, 2015.
  9. ^ "Integrated Business City - Sri City". Retrieved 12 May 2016.
  10. ^ Administrator. "MARG Swarnabhoomi smart city by MARG Group, a GRK Reddy Venture". Retrieved 12 May 2016.
  11. ^ "Account Suspended". www.inspirainfra.com.
  12. ^ "Shannon Heritage Home". Retrieved 12 May 2016.
  13. ^ "Korean Free Economic Zones". Retrieved 12 May 2016.
  14. ^ Authority), BJFEZ (Busan-Jinhae Free Economic Zone. "BJFEZ (Busan-Jinhae Free Economic Zone Authority)". eng.bjfez.net.
  15. ^ http://www.dgfez.go.kr Archived 2009-06-05 at the Wayback Machine
  16. ^ 국문 사이트. "광양만권경제자유구역청". Retrieved 12 May 2016.
  17. ^ http://www.ifez.go.kr
  18. ^ "황해경제자유구역청". Retrieved 12 May 2016.
  19. ^ http://sgfez.go.kr/
  20. ^ "EFEZ - East coast Free Economic Zone : Invest Gangwondo". www.efez.go.kr.
  21. ^ 충청북도. "충청북도". eng.cbfez.go.kr.
  22. ^ "Home". Retrieved 12 May 2016.
  23. ^ "Stratēģiskais novietojums". Retrieved 12 May 2016.
  24. ^ "Freeport of Riga - Your Reliable Business Partner in the Baltic Sea!". Retrieved 12 May 2016.
  25. ^ "VATP". Retrieved 12 May 2016.
  26. ^ "Laisvoji ekonominė zona Baltic FEZ". Baltic FEZ. Retrieved 12 May 2016.
  27. ^ "Invest in Klaipėda, Lithuania - FEZ Klaipeda". Retrieved 12 May 2016.
  28. ^ "Panevėžio laisvoji ekonomine zona - LEZ Panevėžyje". Retrieved 12 May 2016.
  29. ^ "West Africa's High Value Industrial Free Zone and Logistics Hub". Retrieved 19 June 2016.
  30. ^ a b c d "Home". Retrieved 12 May 2016.
  31. ^ http://www.adb.org/sites/default/files/project-document/66546/36027-07-reg-tacr.pdf
  32. ^ a b "Law on Economic Zones - Invest Mongolia". investmongolia.wordpress.com.
  33. ^ "TMZ - Tanger Med Zones - TMSA". Retrieved 12 May 2016.
  34. ^ Islamabad,Pakistan., Ministry of Planning, Development & Reform 'P' block Pak-Secretariat. "Development of Free Zone - China-Pakistan Economic Corridor (CPEC) Official Website". www.cpec.gov.pk.
  35. ^ (PCI), Pakistan-China Institute. "CPEC - China-Pakistan Economic Corridor (CPEC)". www.cpecinfo.com.
  36. ^ "ZOFRATACNA - Zona Franca de Tacna, Perú". Retrieved 12 May 2016.
  37. ^ "Special Economic Zones". Manateq. Archived from the original on 2016-04-06. Retrieved 2016-07-29.
  38. ^ a b Mikavica, A. (3 September 2017). "Slobodne zone mamac za investitore". politika.rs (in Serbian). Retrieved 17 March 2019.
  39. ^ "DP WORLD TO DEVELOP FREE ZONE IN SOMALILAND -" (PDF). Retrieved 6 Nov 2017.
  40. ^ Rafis Abazov, Historical Dictionary Of Turkmenistan, p. 62, ISBN 978-0-8108-5362-1
  41. ^ "Ukraine and EU are ready to implement free trade agreement". 112.International. Retrieved August 18, 2015.
  42. ^ "Abu Dhabi Global Markets". www.adgm.com. Retrieved 29 July 2018.
  43. ^ "JAFZA (Jebel Ali Free Zone)". Business-Dubai.com. Retrieved 23 November 2015.
  44. ^ a b Trade Secretary announces Freeports Advisory Panel will ensure UK is ready to trade post-Brexit, published 2 August 2019, accessed 21 August 2019
  45. ^ a b c "Xây dựng 3 "đặc khu kinh tế" Vân Đồn, Bắc Vân Phong và Phú Quốc" (in Vietnamese). N.Mạnh. 7 December 2016. Retrieved 22 May 2017.
  46. ^ "Aden Free Zone". Aden Free Zone Authority. Archived from the original on 29 February 2012. Retrieved 12 May 2016.

BibliographyEdit

External linksEdit