FTZ Exchange Abbreviation

Foreign Trade Zone

Known in some countries as a free trade zone, a foreign trade zone (FTZ) is a site where foreign and domestic goods are held until they ready to be released into international commerce. If the final product is imported into the country, duties and taxes are not due until the goods are released into the market. Merchandise may enter a FTZ without a formal Customs entry or the payment of Customs duties or government excise taxes.