Greece free trade zones

DSC04009-Greece Patmos Chora

Greece Listeni/ˈɡrs/ (Greek: Ελλάδα, ElladaIPA[eˈlaða] ( listen)), officially the Hellenic Republic (Ελληνική ΔημοκρατίαElliniki DimokratiaIPA: [eliniˈci ðimokraˈtia][10]), and historically Hellas (Ancient Greek: Ἑλλάς, HellasIPA: [hellás]), is a country in Southern Europe, politically also considered part of Western Europe.

Modern Greece traces its roots to the civilization of ancient Greece, generally considered the cradle of Western civilization. As such it is the birthplace of democracy, Western philosophy, the Olympic Games, Western literature and historiographypolitical science, major scientific and mathematical principles, and Western drama, including both tragedy and comedy. This legacy is partly reflected in the seventeen UNESCO World Heritage Sites located in Greece, ranking Greece 7th in Europe and 13th in the world. The modern Greek state was established in 1830, following the Greek War of Independence.

Greece has land borders with Albania, the Republic of Macedonia and Bulgaria to the north, and Turkey to the east. The Aegean Sea lies to the east of mainland Greece, the Ionian Sea to the west, and the Mediterranean Sea to the south. Greece has the 11th longest coastline in the world at 13,676 km (8,498 mi) in length, featuring a vast number of islands (approximately 1,400, of which 227 are inhabited), including Crete, the Dodecanese, the Cyclades, and the Ionian Islands among others. Eighty percent of Greece consists of mountains, of which Mount Olympus is the highest at 2,917 m (9,570 ft).

developed country with an advanced, high-income economy and very high standards of living (including the 21st highest quality of life as of 2010), Greece has been a member of what is now the European Union since 1981 and the eurozone since 2001, NATO since 1952, and the European Space Agency since 2005. It is also a founding member of the United Nations, theOrganisation for Economic Co-operation and Development, and the Organization of the Black Sea Economic Cooperation. Greece is the largest economy of the Balkans.

Athens is the capital and the largest city in the country (its urban area also including Piraeus).

via http://en.wikipedia.org/wiki/Greece

Greece has three free trade zones, located at the Piraeus, Thessaloniki, and Heraklion port areas. Goods of foreign origin may be brought into these zones without payment of customs duties or other taxes and remain free of all duties and taxes if subsequently trans-shipped or re-exported.

Documents relating to the receipt, storage, or transfer of goods within the zones are free from stamp taxes.

Handling operations are carried out according to EU regulations 2504/88 and 2562/90.

Transit goods may be held in the zones free of bond. The zones may be used for re-packing, sorting and re-labelling operations.

Assembly and manufacture of goods are carried out on a small scale in the Thessaloniki free zone.

Storage time is unlimited, as long as warehouse charges are promptly paid every six months.

via http://www.austrade.gov.au/Doing-business-in-Greece/default.aspx

Africa signs agreement for Africa Free Trade Zone

A Landsat image of Cape Town overlaid on SRTM ...

Image via Wikipedia

The leaders of three African regional economic blocs signed an agreement to develop a free trade zone stretching from Cape Town to Cairo.

The so-called Grand Free Trade Area would encompasses 26 countries, 600 million people and have an estimated gross domestic product of about $1 trillion, according to a statement released after a conference in Johannesburg today.

“The establishment of a Tripartite Free Trade Area will bolster intra-regional trade by creating a wider market, increase investment flows, enhance competitiveness and develop cross-regional infrastructure,” according to the statement.

The meeting was attended by leaders from the Southern African Development Community, the Common Market for Eastern and Southern Africa, and the East African Community. It is their second since an initial summit in October 2008. They agreed to further negotiations, without publishing any timeframes.

South African President Jacob Zuma told a press conference that Africa needs to remove hurdles to the movement of goods across boundaries and that infrastructure development must lift intra-Africa trade “from the current low base of 10 percent.”

South Africa, the continent’s largest economy, is driving regional integration as it seeks to create a larger market for companies such as Shoprite Holdings Ltd. (SHP), Africa’s biggest retailer. Africa’s economy has grown an average of 5.7 percent each year over the past decade, according to the International Monetary Fund, fueling the expansion of a new middle class.

via African Trade Blocs Sign Agreement to Develop Continental Free Trade Zone – Bloomberg