Miami gets green light to expand FTZs

The U.S. Department of Commerce has accepted the application by the Port of Miami for a Foreign Trade Zone license, enhancing Miami-Dade County’s status as a Center for International Trade and Commerce, the Journal of Commerce reports.

Port officials said the license would expand Miami-Dade’s current foreign trade zones to a more flexible approval process that would make it easier for individual companies to create duty-free warehouses.

FTZ designations allow exporters to ship goods without paying U.S. import taxes, provided the items are heading from one foreign country to another.

By creating more duty-free zones, the Port of Miami aims to make it easier for shippers to operate in Miami-Dade and attract more cargo through the port’s facilities.