Foreign Trade Zone
While there are several Foreign Trade Zones in the Memphis area, Fullen Dock is the first terminal and warehouse space to receive this designation.
Our designation as a Foreign Trade Zone, known internationally as a free trade zone, offers a unique opportunity for companies looking to address the many challenges associated with conducting international trade.
- Foreign Trade Zones provide businesses with opportunities to reduce U.S. Customs duties and to defer payment until the product leaves the zone.
- Many foreign-made parts, components, and merchandise may enter the foreign trade zone without payments of certain duties, taxes, and fees.
- Businesses can store goods in a foreign trade zone warehouse without paying the duties, taxes, and fees associated with importing into the U.S.
- Merchandise that is held in a foreign trade zone and subsequently exported may not require payment of U.S. Customs duties.
- Businesses can also use parts held in the Foreign Trade Zone to manufacture and export a finished product without being subjected to U.S. import and export surcharges.
Call us today at 800.467.7104 or 901.358.9544 to learn find out how you can gain a competitive edge for your business using our Foreign Trade Zone terminal and warehouse space.
Since Foreign Trade Zones are physically located within the United States, but deemed to be outside the U.S. Customs territory, they are exempt from many U.S. Customs rules and regulations.
It is important to remember that these areas are still governed by the laws and regulations of the United States, as well as those of the local communities where they are located.