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Article
Publication date: 1 September 2019

Wence Yu, Hao Chen and Liqiang Yang

In order to alleviate China's crisis of marginalization in international trade, combined with the development characteristics of the Shanghai Free Trade Zone, the development…

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Abstract

In order to alleviate China's crisis of marginalization in international trade, combined with the development characteristics of the Shanghai Free Trade Zone, the development direction of the bonded cold chain business of Shanghai Yangshan Comprehensive Bonded Port Area was proposed. From a long-term perspective, a free trade zone integrating processing, logistics, finance, culture, and internal and external market trade was formed. By taking advantage of the huge consumption of imported food in the Yangtze river delta region, the policy advantages of Yangshan Port Area are exploited. Combined with the development of cross-border e-commerce, innovative experiences that could be replicated and promoted are formed. The results showed that the free trade zone is the development direction of the bonded port area. Therefore, the Shanghai Bonded Port Area should focus on the integration with the development of the free trade zone in the initial stage. This lays a solid foundation for the construction of the bonded port area as a comprehensive internal and external trade platform for ASEAN (the Association of Southeast Asian Nations) and the domestic market. Research on the planning and layout of trade zones can help plan the future development of trade zones and their direction. The trade zone is pre-controlled. The efficiency of future construction and upgrading of the bonded area is improved. It is of great practical significance to the current development and construction of the Shanghai Bonded Port Area.

Details

Open House International, vol. 44 no. 3
Type: Research Article
ISSN: 0168-2601

Keywords

Article
Publication date: 6 December 2023

Ehi Eric Esoimeme

This paper aims to provide authorities managing free trade zones, business enterprises, financial institutions and dedicated free zone customs, police and immigration command…

Abstract

Purpose

This paper aims to provide authorities managing free trade zones, business enterprises, financial institutions and dedicated free zone customs, police and immigration command assigned to deal with aspects of movement of goods and persons in and out of the free zones with a clear understanding of the cross-border financial crime risks associated with the African Continental Free Trade Area and the risk control measures that combines human intelligence with advanced technology to combat cross-border financial crimes in the African Continental Free Trade Area.

Design/methodology/approach

A range of research activities would be used in this study. In addition to a sweeping literature review of academic, official studies and media writings, the main focus is on critically evaluating and analysing primary data by searching and collecting statutes, court cases, administrative rules and regulations and policy documents.

Findings

This paper identified bribery and corruption; modern slavery; and trade-based money laundering as the financial crime risks that are of priority concern to African Continental Free Trade Areas and demonstrated how countries can assess and mitigate these risks through adequate policies, procedures and controls including appropriate compliance management arrangement and adequate screening procedures to ensure high standards when hiring employees; corporate transparency; training on managing incidents of modern slavery, forced labour and third-party exploitation; and appropriate monitoring framework for trade-based money laundering activities.

Originality/value

While many authors have written research papers on intra-African trade, none of those research papers explained how countries can assess and mitigate financial crime risks in free trade zones. This research paper describes the ways in which cross-border financial crime risks can be assessed and adequately addressed by the authorities managing free trade zones. This research paper analyses the risk assessment topic in line with the African Continental Free Trade Area with a focus on free trade zones in Nigeria. This research paper would help authorities managing free trade zones, commercial organisations and business enterprises to identify, prevent and mitigate cross-border financial crime risks. Zone managements and business enterprises that implement the risk-based approach, in line with the guidance given in this research paper, will be well-placed to avoid the consequences of inappropriate de-risking behaviour.

Details

Journal of Financial Crime, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 1 September 2017

Xionghui Zhang

The economy of Fujian has caused tremendous development momentum and increased the economic exchanges between Taiwan and the mainland since the establishment of the free trade

Abstract

The economy of Fujian has caused tremendous development momentum and increased the economic exchanges between Taiwan and the mainland since the establishment of the free trade area of Fujian province. However, the contradiction between ecological protection and economic development should be considered on the basis of solving the problem of building trade zones. Performing regional trade zone planning from the ecological and economic perspectives is difficult, not only should the ecological and economic perspectives meet and emphasize the ecological and economical levels of interaction, but also achieve the optimization of eco-economic development potential of the free trade zone. In view of the above problems, according to the economy and resource allocation base of the new trade zone in Fujian Province, the space planning strategy development was carried out in this paper. In the overall layout of the new trade zone, the chain service area, the high-end service area, and the city near the port are taken as a major planning axis. North and South regions are gathering areas of shipping, logistics and new industries, developing on three partitions of function, improvement and advance around Haijing Road. The landscape is divided into Cai Jianwei mountain and Jing Kouyan mountain as the basis, and the third South China Sea Road and Haixin road form six corridors between mountain and sea. With the foundation of international cruise port development planning, the ease of east harbors should be promoted to north, and the development rhythm od airport planning areas should be strictly controlled, which can prepare for the later spatial release of the relocation of the airport from city planning areas. The main line of the important traffic node is reserved to improve the stock space, and the industrial neighborhood area near the central fishing port of Fujian and Taiwan is reserved, which can provide the regional space preparation for the planning of the new trade zone.

Details

Open House International, vol. 42 no. 3
Type: Research Article
ISSN: 0168-2601

Keywords

Article
Publication date: 1 September 2017

Wence Yu, Hao Chen and LiQiang Yang

Since the reform and opening up, the economy of China has rapidly developed. The system, structure, mode, and pattern of the foreign trade in China must be adjusted accordingly to…

Abstract

Since the reform and opening up, the economy of China has rapidly developed. The system, structure, mode, and pattern of the foreign trade in China must be adjusted accordingly to adapt to new economic normality. In this study, the main types of free trade areas worldwide were analyzed, and the necessary conditions for their successful development were examined on the basis of an ecological economic perspective. The Shanghai free trade area is a typical representative of a new type of Trade Zone in China. It introduces the principles of sustainable development, people oriented, green, low-carbon and other eco free trade zones. The planning characteristics of Shanghai free trade zone were studied from the point of view of planning economy and land use. Taking Shanghai Yangshan land free trade zone as an example, the planning research was carried out in terms of functional zoning, environment, transportation and facilities. In summary, this study provided theoretical and technical references for the construction of free trade areas and for the formulation of significant policies.

Details

Open House International, vol. 42 no. 3
Type: Research Article
ISSN: 0168-2601

Keywords

Article
Publication date: 20 January 2012

Belay Seyoum and Juan Ramirez

In 2008, a bill was introduced in the 110th Congress (HR6415) to address the “unintended consequences” of US free trade agreements (US FTA) on manufacturers operating in US…

2716

Abstract

Purpose

In 2008, a bill was introduced in the 110th Congress (HR6415) to address the “unintended consequences” of US free trade agreements (US FTA) on manufacturers operating in US foreign trade zones (FTZs). Presently, US manufacturers operating in FTZs that use imported components pay a tariff (on finished goods entering the US market), which is not paid by their competitors in countries that have free trade agreements (FTAs) with the USA. The purpose of this paper is to explore the implications of a legislative proposal to address this issue (the bill is still under consideration and not yet been passed by Congress) for domestic firms and the overall economy.

Design/methodology/approach

The paper is largely based on the analysis of the legislative proposal (HR6415), and US trade data obtained from the United Nations.

Findings

The paper shows that the trade agreement parity (TAP) proposal may have the undesirable effect of encouraging local firms (in US FTZs) to use foreign components and increasing the trade deficit. It also shows that the proposal, by facilitating the entry of more foreign imports undermines the original purpose for which FTZs were designed.

Originality/value

There are no papers examining the implications of this Congressional bill on domestic competition and the overall US economy. This paper and its recommendations will help US policymakers to re‐evaluate the existing proposal and also revisit the role of FTZs in the US economy.

Details

Journal of Economic Studies, vol. 39 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 4 July 2016

Jose Caraballo-Cueto

The Dominican trade deficit represents almost 16 per cent of its gross domestic product (GDP) and is insufficiently counteracted by tourism and remittances; not even a high…

Abstract

Purpose

The Dominican trade deficit represents almost 16 per cent of its gross domestic product (GDP) and is insufficiently counteracted by tourism and remittances; not even a high devaluation closed the imbalance. Eighty per cent of the exports are from free trade zones. These facts reflect their low domestic entrepreneurial capacity. The purpose of this study is to critically evaluate the Dominican economic model.

Design/methodology/approach

The author motivates the discussion with descriptive statistics and then applies multiple time-series regressions at the macro level and at the industry level.

Findings

The attraction of foreign firms appears to substitute, and not complement, the building of local capacity. Regressions show that a GDP growth of 5 per cent does not decrease the high unemployment rate.

Originality/value

Using new Okun’s equations, it is concluded that sectors dominated by local producers and improvements in the trade balance better impact the unemployment. These findings challenge conventional wisdom that characterizes the Dominican economy as a “successful story”.

Details

International Journal of Development Issues, vol. 15 no. 2
Type: Research Article
ISSN: 1446-8956

Keywords

Article
Publication date: 1 June 1989

T. Bettina Cornwell

This article examines the issues related to US foreign‐trade zonesas perceived by the zone managers. A longitudinal study of foreign‐tradezone managers was conducted. The results…

Abstract

This article examines the issues related to US foreign‐trade zones as perceived by the zone managers. A longitudinal study of foreign‐trade zone managers was conducted. The results of the two surveys and an extensive dialogue with foreign‐trade zone managers suggest a continuing lack of awareness and understanding of the benefits of zone operations on the part of potential zone users. Implications are discussed from a marketing management perspective.

Details

International Marketing Review, vol. 6 no. 6
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 1 May 1989

Wade Ferguson

This article shows how using foreign trade zones as part of thedistribution system can reduce the total product cost of imports intothe United States and exports to foreign…

Abstract

This article shows how using foreign trade zones as part of the distribution system can reduce the total product cost of imports into the United States and exports to foreign markets.

Details

Management Decision, vol. 27 no. 5
Type: Research Article
ISSN: 0025-1747

Keywords

Book part
Publication date: 30 March 2022

Irina N. Belova, Yining Cheng and Xizhe Wang

Cooperation in agriculture and agricultural products trade is a new driving force for Sino-Russian cooperation in economy and trade in recent years. Driven by the interests and…

Abstract

Cooperation in agriculture and agricultural products trade is a new driving force for Sino-Russian cooperation in economy and trade in recent years. Driven by the interests and needs of both countries, a Free Trade Zone (FTZ) on the Chinese territory facing Russia, the Heilongjiang FTZ, has been established, and agricultural cooperation has attracted much attention within the FTZ framework. This chapter aims to analyze and explain the prospects of Sino-Russian agricultural cooperation under the framework of the Heilongjiang FTZ based on the current situations of cooperation. The author concludes that the Heihe and Suifenhe Areas in Heilongjiang FTZ are developed with a focus on Sino-Russian agricultural cooperation. This chapter is innovative because it combined the traditional research perspective on Sino-Russian agricultural cooperation with that under the FTZ framework. The author thinks that to facilitate the cooperation between the two countries in agriculture under the FTZ, the two governments must cooperate more extensively. Besides, they need to discuss the establishment of infrastructures like a joint agricultural product R&D centre and a digital development centre for agriculture. Meanwhile, the schemes of dispute settlement and risk-sharing should be addressed as well.

Details

Current Problems of the World Economy and International Trade
Type: Book
ISBN: 978-1-80262-090-0

Keywords

Article
Publication date: 9 January 2017

Belay Seyoum

The paper aims to investigate the effects of several determinants of firm import intensity in US foreign trade zones (FTZs). Even though the major objective for the establishment…

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Abstract

Purpose

The paper aims to investigate the effects of several determinants of firm import intensity in US foreign trade zones (FTZs). Even though the major objective for the establishment of US FTZs is to encourage exports by facilitating the duty-free entry of imports, US firms have used it as a gateway to import goods into the US market. Currently, over 90 per cent of US FTZ output is consumed in the USA. The author examines the major determinants for such import intensity in US FTZs.

Design/methodology/approach

The study is based on a survey that was conducted to explore the factors that influence import intensity of firms operating in US FTZs.

Findings

The findings reveal that besides export orientation of firms, the most promising predictors of import intensity of firms operating in USA FTZs are the policy environment in the form of inverted tariff benefits and firm business strategy.

Practical implications

The findings are important for managers presently operating in US FTZs or intend to do so in future.

Originality/value

Even though there are numerous studies on free trade zones and exports, this is the first study to examine the import intensity of US FTZs and their determinants.

Details

European Business Review, vol. 29 no. 1
Type: Research Article
ISSN: 0955-534X

Keywords

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