New Foreign Trade Zone Point created in Sarnia-Lambton
The Government of Canada announced the official designation of Sarnia-Lambton as a Foreign Trade Zone (FTZ) Point-a – single point of access to resources and information relating to programs that relieve duties, tariffs and taxes for businesses engaged in importing and exporting.
Sarnia-Lambton is one of the busiest commercial land border crossings in North America, strategically located on the Ontario-Michigan border
The FTZ Point designation improves access to existing programs. It allows a region to coordinate programs that benefit businesses, such as the Duty Deferral Program, the Duties Relief Program, the Drawback Program, the Customs Bonded Warehouse Program and the Export Distribution Centre Program.
It is expected that the FTZ designation will allow Sarnia-Lambton to market themselves as a hub for international trade and to provide coordinated access to government FTZ programs helping to attract more business and foreign direct investment (FDI) to the area.