Britain plans to announce the location of up to 10 post-Brexit freeports by the ...
FILE PHOTO: A general view shows the port on Brexit day, in Dover, Britain January 31, 2020. REUTERS/Peter Nicholls
As Britain develops its own trade policy for the first time in decades after leaving the European Union at the end of January, the government has launched a 10-week consultation setting out its plans for the freeports, or free trade zones.“Freeports will unleash the potential in our proud historic ports, boosting and regenerating communities across the UK,” Chief Secretary to the Treasury, Rishi Sunak, said in a statement.
Freeports are areas where imported goods can be held or processed free of customs duties before being exported again. They can also be used to import raw materials and make finished goods for export.
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