A port or area where goods can be imported, stored, handled, manufactured, or reconfigured without customs duties or government intervention.
Compound of 'free' from Old English 'frēo' and 'port' from Latin 'portus' meaning harbor. The concept emerged in medieval Europe as trading centers that operated with reduced tariffs to encourage commerce and economic growth.
Freeports are essentially economic islands within countries, where normal tax and customs rules are suspended to create trade hubs. These zones can be controversial because while they boost commerce, they can also become havens for money laundering or tax avoidance, making them fascinating examples of how geography and economics intersect.
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