Is Puerto Rico a free trade zone?
Is Puerto Rico a free trade zone?
The Puerto Rico Trade and Export Company (CCE) is the operator of the San Juan Foreign Trade Free Zone No. 61. After the expansion of the area’s boundaries, all the land belonging to the CCE in Mayagüez and the metropolitan area can receive the benefits of operating under the free zone program.
Where are free trade zones located in the US?
CBP ports of entry
Foreign-Trade Zones (FTZ) are secure areas under U.S. Customs and Border Protection (CBP) supervision that are generally considered outside CBP territory upon activation. Located in or near CBP ports of entry, they are the United States’ version of what are known internationally as free-trade zones.
What countries trade with Puerto Rico?
Puerto Rican trade is facilitated by the island’s inclusion in the U.S. Customs system, and Puerto Rico’s most important trading partner, by far, is the United States. The island also carries on significant trade with Singapore, Japan, Brazil, and Ireland and other European countries.
What are the 3 regional trade organizations?
Types of Regional Trading Agreements
- Preferential Trade Areas. The preferential trading agreement requires the lowest level of commitment to reducing trade barriers.
- Customs Union.
- Economic Union.
Why does WTO allow FTA?
A key rule of the multilateral trade system is that reductions in trade barriers should be applied, on a most-favoured nation basis, to all WTO members. This means that no WTO member should be discriminated against by another member’s trade regime.
https://www.youtube.com/watch?v=5PJATEQ3H7U
