- Help regional business grow internationally
- Identify more foreign direct investment opportunities for the region
- Generate revenue to support these activities
World Trade Center Savannah is a member of the World Trade Centers Association, a global association of hundreds of World Trade Centers in some 100 countries.
Through the combined networks of international trade and business development experts, World Trade Center Savannah meets the specific needs of our partners and clients by providing international market research, business matchmaking and connections to valuable public and private resources, as well as through the planning of strategic trade missions, educational programs and networking events. The World Trade Center Savannah was awarded the Grant of Authority for Foreign Trade Zone 104, and stands ready to help companies save money and compete globally.Foreign Trade Zone 104
An FTZ is an area within the United States, in or near a U.S. Customs port of entry, where foreign and domestic merchandise is considered to be outside of the U.S. Customs territory. Foreign Trade Zones were legislated by the U.S. Congress to facilitate international trade and enhance the global competitiveness of U.S. based companies and affiliates, whether the parent company is located domestically or abroad. Certain types of merchandise can be imported into a zone without going through formal customs entry procedures or paying import duties. Customs duties and excise taxes are due only when merchandise leaves the FTZ for consumption in the U.S. If the merchandise never enters U.S. commerce, then no duties or taxes are paid on those items.
By doing business in Foreign Trade Zone 104, you may reduce some costs associated with operating in the U.S. rather than in a foreign country. This can help generate more U.S. jobs and make your company more competitive in foreign and domestic markets.ADVANTAGES
- Savings in shipping charges, duties and taxes
- Relief from inverted tariffs
- Duty exemption on re-exports
- Duty elimination on waste, scrap and yield loss
- Duty elimination on shrinkage, seepage or evaporation
- Quota goods may be held until the next quota period
- Weekly entry savings
- Capital stays with you, not customs, until goods are cleared
- No time limit on how long foreign merchandise can be stored in a zone