free port

free port
1. a port or special section of a port where goods may be unloaded, stored, and shipped without payment of customs duties.
2. a port open under equal conditions to all traders.

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      area within which goods may be landed, handled, manufactured, and reshipped without the intervention of the customs authorities. It is now more commonly known as a free-trade zone.

      The primary purpose of a free port or a free-trade zone is to remove hindrances to trade caused by high tariffs and complex customs regulations. (See free trade.)

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Universalium. 2010.

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Look at other dictionaries:

  • Free port — Free Free (fr[=e]), a. [Compar. {Freer} ( [ e]r); superl. {Freest} ( [e^]st).] [OE. fre, freo, AS. fre[ o], fr[=i]; akin to D. vrij, OS. & OHG. fr[=i], G. frei, Icel. fr[=i], Sw. & Dan. fri, Goth. freis, and also to Skr. prija beloved, dear, fr.… …   The Collaborative International Dictionary of English

  • Free port — Port Port, n. [AS. port, L. portus: cf. F. port. See {Farm}, v., {Ford}, and 1st, 3d, & 4h {Port}.] 1. A place where ships may ride secure from storms; a sheltered inlet, bay, or cove; a harbor; a haven. Used also figuratively. [1913 Webster]… …   The Collaborative International Dictionary of English

  • free port — ➔ port1 * * * free port UK US noun [C] COMMERCE ► TRANSPORT, TAX a port that charges little or no tax on goods that have been brought there temporarily from a foreign country before being transported to another country: »The UK set up six free… …   Financial and business terms

  • free port — n. 1. a port open equally to ships of all countries 2. a port or zone where goods may be unloaded, stored, and reshipped without payment of customs or duties, if they are not imported: also free zone …   English World dictionary

  • free port — free ports N COUNT A free port is a port or airport where goods can be brought in from foreign countries without payment of duty if they are going to be exported again …   English dictionary

  • free port — free′ port′ n. bus a port or special section of a port where goods may be unloaded, stored, and shipped without payment of customs duties …   From formal English to slang

  • free port — ► NOUN 1) a port open to all traders. 2) a port area where goods in transit are exempt from customs duty …   English terms dictionary

  • free port — n a port or airport in one country where goods from other countries can be brought in and taken out without being taxed …   Dictionary of contemporary English

  • free port — noun count a port or airport where no tax is paid on goods that are delivered because they are then going to be sent to other countries …   Usage of the words and phrases in modern English

  • Free port — A free port (porto franco) or free zone (US: Foreign Trade Zone) is a port or area with relaxed jurisdiction with respect to the country of location. Free economic zones may also be called free ports. Most commonly a free port is a special… …   Wikipedia

  • free port — noun 1. an area adjoining a port where goods that are intended for reshipment can be received and stored without payment of duties • Syn: ↑free zone • Hypernyms: ↑area, ↑country 2. a port open on equal terms to all commercial vessels • Hypernyms …   Useful english dictionary

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