The WCO Secretariat released its latest research paper. Entitled “Extraterritoriality of Free Zones: the Necessity for Customs Involvement”, it examines the current situation regarding Customs procedures and controls related to Free Zones.
The benefits and risks associated with Free Zones have been widely documented. Free Zones serve as “growth poles” for national and regional economies, in particular by offering less regulation and governmental “red tape”. However, as already outlined in many other research papers, Free Zones are not only utilized by legitimate actors for legal economic activities, but also occasionally misused for illicit activities.
Visit WCO web site for more information and access to Research Paper.