A Free Trade Zone (FTZ) is a designated area within a country where goods can be imported, stored, and exported without being subject to the usual customs duties and tariffs. These zones are created to encourage international trade and investment by reducing costs for businesses. Companies operating in FTZs can process, assemble, or manufacture products without the immediate burden of taxes. FTZs can benefit local economies by attracting foreign investment and creating jobs. They often provide streamlined customs procedures, making it easier for businesses to operate. Examples of countries with FTZs include the United States, China, and many members of the European Union.