FTZVI. Okay so given all the media attention around NAFTA you probably know USMCA is the United States, Mexico, Canada free trade agreement replacing the North America Free Trade Agreement. CPTPP, or Comprehensive and Progressive Trans-Pacific Partnership is a free trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. And CETA, or Comprehensive Economic and Trade Agreement is Canada’s free trade agreement between Canada and members of the European Union.
So what is FTZVI?
FTZVI is the newly declared Vancouver Island Foreign Trade Zone.
So what does that mean?
In general terms it means that Vancouver Island is officially designated as a zone eligible for tariff and tax exemptions with respect to the purchase or importation of raw materials, components or finished goods for export. Tariff structures are simplified, reducing overall compliance costs and administration burdens. That’s great news!
Features of the program include:
To learn more, visit http://ftzvi.com/.
“Vancouver Island is strategically positioned for export trade with Asia and the Americas. The Island has a significant inventory of under-utilized industrial land supported by transportation infrastructure with plenty of capacity to handle increased export volumes and attract investment.”
— George Hanson, President & CEO, Vancouver Island Economic Alliance
FTZVI. . . another great reason to invest in Campbell River!