PortMiami receives FTZ approval

Paul Piquado DOC assistant secretary for Import Administration and Miami-Dade County Mayor Carlos Gimenez have carried out an official licence signing ceremony at Port Miami at which Piquado presented PortMiami with its official grant of authority to administer Foreign Trade Zone No.281.

Port officials said the plan will expand Miami-Dade’s current foreign-trade zones to a more flexible approval process that will make it easier for individual companies to create duty-free warehouses allowing exporters to ship goods without paying US import taxes provided the items are heading from one foreign country to another.

According to a company statement, foreign-trade zones benefit companies because cargo that enters the US is subject to import tariffs. By creating more duty-free zones, Port Miami makes it easier for cargo companies to operate in Miami-Dade and use the port’s facilities.