Free economic zones ( FEZ ), free economic territories ( FETs ) or free zones ( FZ ) are a class of special economic zone (SEZ) designated by the trade and commerce administrations of various countries . The term is used to designate areas in which companies are taxed very lightly or not at all to encourage economic activity . The taxation rules and duties are determined by each country. The World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures (SCM) has content on the conditions and benefits of free zones.
40-1123: Freeport , a variant of free port , may refer to: Arts, entertainment, and media [ edit ] Freeport, name of several space stations in the video game Freelancer (2003) Freeport, a fictional town in the video game SiN (1998) Freeport: The City of Adventure , a role playing game setting by Green Ronin Publishing Places [ edit ] United States [ edit ] Freeport, California Freeport, Florida Freeport, Illinois Freeport, Indiana Freeport, Iowa Freeport, Kansas Freeport, Maine Freeport (CDP), Maine Freeport, Michigan Freeport, Minnesota Freeport, New York Freeport, Ohio Freeport, Pennsylvania Freeport, Texas Freeport, West Virginia Elsewhere [ edit ] Freeport, Bahamas Freeport, Nova Scotia , Canada Freeport Tortuga , Haiti Freeport, Trinidad and Tobago Railway stations [ edit ] Braintree Freeport railway station ,
80-401: A city that are used for goods handling and include warehouses for the storage and stocking of goods, from their arrival in port to their shipment and distribution. The port system visually links Miramare Castle, Barcola and San Giusto Castle and follows three directions: a central one, connecting the port with the city, a second one, corresponding to the piers, and a third one, adjacent to
120-588: A law was passed, the "Editto di tolleranza", which provided for the freedom of worship, the possibility to negotiate freely and to own goods. In the 1770s and 1780s, the Trieste Company (sometimes known as the "Austrian East India Company") attempted to connect directly the Habsburg Empire to the Indian and Chinese markets. It appeared that it was necessary to enlarge the port infrastructure and
160-414: A lower operating one. The motive part – a 25 horsepower (19 kW) double expansion steam engine – had a central high-pressure cylinder with a 450 mm diameter and two lateral low-pressure cylinders of 600 mm diameter. A system of crankshaft rods ensured the correct timing of the three cylinders. Hydraulic pressure was kept constant by means of hydraulic accumulators . Two of them were located in
200-590: A railway station in Braintree, Essex, England, United Kingdom Freeport (LIRR station) , a Long Island Railroad Station in Freeport, New York, United States Freeport station (Illinois) , a proposed railway station in Freeport, Illinois, United States Freeport station (Maine) , an Amtrak station in Freeport, Maine, United States Other uses [ edit ] Free port , a special economic zone Freeport Doctrine , articulated by Stephen A. Douglas at
240-456: Is different from Wikidata All article disambiguation pages All disambiguation pages Free economic zone Some special economic zones are called free ports or free trade ports . Sometimes they have historically been endowed with favorable customs regulations, such as the free port of Trieste , or the newer free trade port on Hainan Island . The definition should be understood in meaning The International Convention on
280-402: Is located behind the pier and is characterised by a high brick smokestack and two square towers at the sides of the main facade. The plant, which ceased to be used in 1983, took the water from the water system and supplied energy to the different points of consumption. It was, therefore, a centralised energy generator, which operated the quay cranes, the external cranes and the internal hoists of
320-541: Is the result of a project begun in the early 20th century in response to the growth of trade with the Middle East and Far East created by the opening of the Suez Canal . Completed to a large extent in the 1920s and 1930s, it has been further extended since the 1960s with the development of a container terminal at Pier 7 and a ro-ro / ferry terminal at Riva Traiana. The remaining Free Zones include - in addition to
360-581: The "high incidence of corruption, tax evasion, and criminal activity", with a further review to take place in the following year, The European Parliament suggested that increasing demand for free ports could be partly a response to global crackdowns on tax evasion. The European Commission in a report said that free ports were popular for the storage of art, precious stones, antiques, gold, and wine as alternative assets to cash, and posed an emerging threat in multiple ways: allowing counterfeiters to land consignments and tamper with loads and paperwork, then re-export
400-725: The 1858 Lincoln–Douglas debate in Freeport, Illinois Freeport-McMoRan , a mining company operating in the Americas, Indonesia, and Spain Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title Freeport . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Freeport&oldid=1211222066 " Categories : Disambiguation pages Place name disambiguation pages Hidden categories: Short description
440-785: The Free Port Zones has remained a distinctive feature of the Port of Trieste throughout its history. Granted in 1719 by the Habsburg monarchy and restricted in 1891, this special status has been confirmed by subsequent peace treaties, by the European Community and by the Italian Parliament . Most port land is subject to this rule and therefore lies outside the jurisdiction of European Union Customs. Five Free Port Zones are defined as follows: The Old Free Port ,
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#1732765304289480-492: The Mineral Oils Free Area and the " Canale di Zaule " Free Area, are used for industrial activities. The port is articulated in various terminals, managed by private companies. In the period between the beginning of 1700 and 1850, Trieste was mainly an emporium and was given the status of Free Port by Charles VI, Holy Roman Emperor in 1719. In 1740, when Empress Maria Theresa of Austria took power, one of
520-529: The Porto Vecchio area, with an architectural heritage of great historical and artistic value. Porto Vecchio, located in the heart of the city, covers an area of about 600,000 sq.m. and represents a jewel to be relaunched through the identification of new functions. The "capannoni", the oldest buildings of the port, were erected after the model of the Lagerhäuser, a word which refers to those parts of
560-595: The Simplification and Harmonization of Customs Procedures (Revised Kyoto Convention) uses the term “free zones” which the revised convention describes as “a part of the territory of a Contracting Party where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as being outside the customs territory ”. According to the World Bank, the main types of special economic zones are: An early type of special economic zone
600-437: The buildings a longitudinal appearance, while the vertical lines (pilaster strips and avant-corpses) create interruptions. Through the harmonisation of the lines, the structural elements take up an architectural character. The main body of the facades, from the base to the superstructure, shows unity and dimensional value. At the time of the construction, decorating was achieved through the use of different finishing materials and
640-481: The commission cited Swiss authorities' 2016 seizure of cultural relics looted from the Middle East being stored in Geneva's free ports. The free port system has been accused of facilitating international art crime, allowing stolen artworks to remain undetected in storage for decades. Freeports' lax regulation enables criminals to operate in secrecy. Freeports may facilitate money laundering and tax evasion by obscuring
680-537: The consequent shortening of the distance separating Trieste from Bombay by 7,500 miles - in 1868 the construction of the current Porto Vecchio (the Old Port, at the time called Porto Nuovo, the New Port) was started. The Northern part of the port was built between 1868 and 1883 together with the outer breakwater and other sea infrastructure. On December 22, 1871, the new monthly service linking Trieste with Bombay
720-408: The end of the 19th century, a period of transition for the construction principles and configuration of maritime structures, which were adjusting to a defensive function and to the new trend of equipment mechanisation. Warehouse 26, a monumental building, covers an area of 9,000 sq.m., with a face of about 244m, an underground floor used as a cellar, a ground floor, three higher floors and a garret. It
760-474: The first measures she adopted was to extend the borders of the Free Port area to the periphery of the town, thereby merging the emporium, the port, the new city and the old one. The Empress decided to extend the exemptions from customs duties to the whole city, which attracted many people from different countries and all walks of life ( Italians , Serbians , Slovenians , Croats , Jews and Greeks ): for them
800-471: The foreign regimen. Repackaging, labelling, industrial processing etc. are also possible under the same terms. Besides being the responsibility of the Port Authority (a publicly run body) management of the port's warehouses is also conducted by many private companies - forwarding companies or port terminal operators - working in complete autonomy within the Port Authority regulations. The status of
840-465: The most ancient complex of facilities, was designed by Paul Talabot and built between 1868 and 1883 according to a port and railway development plan aimed at consolidating the role of Trieste as a trading centre for all territories under Austro-Hungarian rule. A modern multipurpose terminal, the Adria Terminal , has recently been created alongside the older installations. The New Free Port
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#1732765304289880-439: The plant operated 83 quay cranes, 31 external cranes for the warehouses and 57 hoists. The hydrodynamic plant - a rare example of machines that worked for more than a century - is located in a Rundbogenstil building, an architectural style that was a German version of Romanesque, very popular at the time. The link between city and port, tied together within a single process of urban and historical development, becomes evident in
920-585: The port by land from Italy or the EU are considered definitively exported, and goods of foreign origin arriving by land are considered foreign goods in transit. Goods arriving from abroad by sea may transit freely and be sent to their foreign destinations. By virtue of exclusive regulations on customs credits, customs duties on goods destined for import may be paid after 6 months at reduced annual interest rates. The port's special extra-customs status also allows commercial operations to be carried out on goods deposited under
960-423: The port warehouses. A series of two-flue Lancashire boilers with a 2.10m diameter and a 10m length, built by St. Jashka & Sohn from Vienna, produced steam with a pressure of 7 atmospheres. The steam was delivered to four main machines and an auxiliary one, all manufactured by Maschinenbau Aktien Gesellschaft vormals Breitfeld, Danek & Com. Prag-Karolinenthal. The main machines had a higher motive part and
1000-503: The products without customs formalities, disguising the actual origin and nature of the goods and their supplier. The commission said they were also used for narcotics trafficking, the illegal ivory trade, people smuggling, VAT fraud, corruption and money laundering. "Legal businesses owned by criminals remain key to money-laundering activities... free ports are perceived as facilities that protect their clients'' identity and financial dealings, much as private banks used to." As an example,
1040-418: The project. 1868 marks the beginning of Trieste as a commercial port whose infrastructures were to be developed in four different periods. To tackle the competition of Northern ports, which had been able to attract trade because of the lack of railway connections with Trieste, and to adjust to the needs of non-European maritime transport, which was to increase after the opening of the Suez Canal in 1869 - with
1080-595: The railway network. In 1857 the Südbahn (Southern) Railway line became operational along the northeastern route: Trieste , Postojna , Ljubljana , Graz , Vienna , with further links to Budapest and the Balkans . The railway element was central in the design of the port structures. In Trieste it was the Lagerhäuser system of Northern European ports that was used as a model. A French engineer, Paulin Talabot , designed
1120-488: The railway. The classification of warehouses and hangars (initially 38 main bodies) comprises three groups of buildings: The warehouses were initially equipped with cranes, elevators, hoists and other lifting equipment, which were used for goods loading and unloading and were hydraulically operated. The buildings of the first and second groups have a perron (a raised platform, about 1 meter high, used to perform loading and unloading operations with railway cars), while those of
1160-576: The real beneficial owners of criminal assets, which hinders authorities' efforts to trace criminal profits and recover taxes. Port of Trieste The Free Port of Trieste is a port in the Adriatic Sea in Trieste , Italy. It is the most important commercial port of Italy, with a trade volume of 62 million tonnes. It is subdivided into five different Free Areas, three of which have been allotted to commercial activities. The remaining two,
1200-659: The sea infrastructures, the port equipment on piers V and VI, the Silo, the Stazione Marittima (the passenger station), and the Idroscalo (the air harbour). After reconstructing the buildings damaged by the bombings of the Second World War , an innovative port reorganisation was started in line with the needs of the containerisation and the new transport systems. Under free port regulations goods reaching
1240-594: The signing of the Treaty of Peace with Italy (10 February 1947, ratified 15 September 1947) was put territorially under the sovereignty of the United Nations itself. As cited on Annex VIII, Article 3, paragraph 2: "The establishment of special zones in the Free Port under the exclusive jurisdiction of any State is incompatible with the status of the Free Territory and of the Free Port" . For example, it
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1280-454: The third group, erected in more recent years (at the beginning of 1900), show entrance doors at ground level as well. The architectural features of these monumental buildings lie in the vertical and horizontal lines along the facades, in the geometric definition of the basements, the doors, the windows and all the elements of the architectonic language of this complex. Along the facade, the horizontal lines (the stringcourses, for instance) give
1320-467: The timber and oil terminals - part of the Zaule industrial canal, which serves the (EZIT) Industrial District, established after the Second World War . The hydrodynamic plant, built in 1890, is an important piece of industrial archaeology. Together with Hamburg , Buenos Aires , Calcutta and Genoa , Trieste was one of the first ports in the world to be equipped with a hydrodynamic plant. The building
1360-418: The towers of the plant and one was situated in the tower near the port gates, in a more central position. Pressurised water was distributed along the port main axis through a 6.8 km long system of cast-iron pipes, installed in underground passages that could be inspected. The main pipeline branched out into secondary pipes connected to the individual points of consumption. In the years between 1920 and 1939
1400-559: The whole city, was now being limited to this area, while the city became physically separated from it. In the period between 1901 and 1914 the works began to enlarge the river area (the embankment), to build the Bersaglieri Wharf, the Scalo Legnami (the timber pier) and S. Andrea port (piers V and VI). The fourth period, between 1924 and 1936, is characterised by the realisation of major public works, which were to complete
1440-414: The work of master decorators and stone-dressers. Cornices, modillions, capitals, basements, windowsills and avant-corpses made of different materials produce a suggestive effect, which is enhanced by the materials' natural colours creating a uniform chromatic impression. Grey cast-iron mullions are a distinctive feature of hangars' ground floors. Each building is an example of the technical architecture at
1480-603: Was free ports , these historically were endowed with favorable customs regulations. In modern times, free port has come to mean a specific type of special economic zone, for example LADOL . All "free ports" in the world were permitted by the respective states, save the Free Port of Trieste that with the signing of the 16th Resolution of the Security Council of the United Nations (10 January 1947) and
1520-429: Was completed in 1893. Because of the length of the building the design included two main stairs leading to the higher floors, seven elevators, eight lifts and two internal hatchways connected with the cellar. The archivolt interrupts the monotonous shape of the windows, while the design of the main facade is consistent with the other buildings. The turrets above the finishing cornices, the richly decorated mansards and
1560-597: Was established. In 1874 a contract was signed with the Südbahn for the development of the port and in 1879 the Magazzini Generali (the warehouses) were erected. In the same year the Pontebbana railway line was officially opened connecting Trieste , Udine , Pontebba , Villach , Salzburg and Munich . In 1891 the port became a free port and was separated from the rest of the town by an enclosure. The status of free port, which had been previously extended to
1600-506: Was not possible to apply the "Italian Law on Ports" in the extraterritorial free zones of the UN Free Port of Trieste with the effect that all actual territorial concessions were null and void. In 1954, the Free Territory of Trieste was dissolved and given to its neighbours, Italy and Yugoslavia. The European Union, in 2020, introduced new stricter rules to identify and report suspicious activities at free ports and zones in response to
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