Improvements to Foreign Trade Zones Helping Canadian Businesses Compete Globally

The Honourable Kevin Sorenson, Minister of State (Finance), has announced measures that will improve Canada’s marketing of its foreign trade zone (FTZ) programs to attract international investment and will reduce red tape and costs for Canadian businesses, allowing them to compete globally.

… Canada’s FTZ programming provides duty and tax exemptions so that businesses nationwide can reduce trading costs…

Informed by stakeholder advice, Economic Action Plan 2013 delivers a package of measures to reduce red tape, cut costs, improve access to existing programs and promote Canada’s FTZ advantage, including:

Eliminating the annual registration fee for the Customs Bonded Warehouse Program, Canada’s most-used FTZ program;
Simplifying the application process to access Canada’s FTZ programs;
Introducing service standards for application processing times;
Accepting requests for new “FTZ Point” single windows to enhance delivery of FTZ programs at strategic locations in Canada; and
Launching a five-year, $5-million program to market Canada’s FTZ advantage and attract foreign investment to strategic locations across Canada.

These measures will help Canadian entrepreneurs in the development of manufacturing, processing and distribution hubs in strategic locations throughout Canada. They will also enhance Canada’s globally competitive business environment, which provides a solid foundation to attract foreign investment in Canada, create jobs for Canadians and foster long-term economic growth…

This has been excerpted from the 28 August 2013 news release by Finance Canada. For more information on Canada’s foreign trade zone improvements, please visit