What is a free trade zone? Does it have any implications to the business world?

[Kross]

I have been hearing of a free trade zone for some time now. And as a person that is very curious, I would love to know what a Free Trade Zone implies. What is the entire concept all about?

Does it have any implications on the business world and how it operates?

 

[Augusta]

I think it is a region in which several countries sign a free trade agreement and maintain little to no barriers to trade in the form of tariffs or quotas among one another

 

[Min George]

I think it is a region in which several countries sign a free trade agreement and maintain little to no barriers to trade in the form of tariffs or quotas among one another

That's true. It is always an agreement between countries to remove all forms of restrictions from trade for the benefit of both countries.