Free Trade Zone

FREE TRADE ZONE Free switch geographical zones can be defined as labour intensive manufacturing centres that involve the here and now of raw materials or components and the export of factory products. A square off barren trade zone or export processing zone is an bea of a country where some normal trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lower in hopes of forceing new business and foreign investments. This was an attempt by Government to promote employment within a clownish area, make use of a small regional airport and generate revenue for the economy. Corporations setting up in a zone may be given tax breaks as an incentive. Usually, these zones are set up in underdeveloped part of the host country; the rationale is that the zones will attract employers and consequently reduce poverty and unemployment, and stimulate the areas economy. These zones are oft used by multinational corporations to set up factories to defecate goods. Free Trade Zones are also known as Special scotch Zones in some countries. Special Economic Zones (SEZs) have been complete in many countries as interrogatory grounds for the implementation of liberal market economy principles. SEZs are viewed as instruments to enhance the acceptability and the credibility of the transformation policies and to attract domestic and foreign investment.

RAK FREE TRADE ZONE:- It was established in May 2000 and one of the fastest-growing and most cost-effective free trade zones in the UAE. It offers four types of business licences. It allows people to set up an entirely new business or a branch of an existing organisation. * Commercial Licence * General Trading Licence * Consultancy/ work Licence * Industrial Licence RULES & REGULATIONS:- * Licences and shoots (licence types, eligibility for obtaining a licence, licence renewal rules and lease and sub-lease requirements) * Activities and operations allowed at RAK FTZ * Construction and building *... If you want to get a full essay, order it on our website: Orderessay

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