freeport Definition
a port, airport, or other facility where goods can be imported, stored, and exported without payment of customs duties.
Using freeport: Examples
Take a moment to familiarize yourself with how "freeport" can be used in various situations through the following examples!
Example
The company established a freeport in the city to facilitate its import and export operations.
Example
The government is planning to create more freeports to boost the economy.
Example
The freeport allows businesses to store goods without paying customs duties until they are ready to be sold.
freeport Synonyms and Antonyms
Synonyms for freeport
- duty-free zone
- free-trade zone
- foreign trade zone
Summary: freeport in Brief
'Freeport' [ˈfriːpɔːt] refers to a port, airport, or other facility where goods can be imported, stored, and exported without payment of customs duties. It is also known as a duty-free zone or free-trade zone. Freeports are established to facilitate import and export operations, and to boost the economy. They allow businesses to store goods without paying customs duties until they are ready to be sold.
