New Foreign Trade Zone Point created in Montreal
A Foreign Trade Zone (FTZ) Point has been created for the Montreal metropolitan community. The Metropolitan Cluster of logistics and transportation in Montreal, CargoM, made the announcement on Monday during a presentation attended by ministers and industry representatives.
An FTZ Point is a strategic location identified for international trade and foreign direct investment which is uniquely supported by a single-point of access to information on relevant government policies and programs.
FTZ supported activities include, for example, the Duties Relief Program, the Drawback Program, the Customs Bonded Warehouses Program, the Export Distribution Centre Program and the Exporters of Processing Services Program.
“Investments in a resource dedicated to the Foreign Trade Zone Point channel the dynamism and keen interest in our constantly growing sector of activity. With the Foreign Trade Zone designation, Montreal has just acquired another tool to boost its attractiveness as an international trade hub and gateway to North America, for the great benefit of our importers and exporters as well as the entire logistics and transportation sector,” said Mathieu Charbonneau, Executive Director, CargoM.
This Foreign Trade Zone Point designation is the thirteenth granted by the Economic Development Agency of Canada.