Gateway Terminal is one of few designated Foreign Trade Zones in the State of Connecticut
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.
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.
These areas are still governed by the laws and regulations of the United States, as well as those of the communities where they are located.
FTZ Benefits
- 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 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.
