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Export Processing Zones

An Export Processing Zone (EPZ) is an industrial estate usually situated near an intentional part and/or airport with view to encourage units meant for production of processing of export items.

The salient features fo Export Processing Zone are as follows:

(i)    The entire production of units in the EPZ is normally exported.

(ii)    Import of capital equipment, machinery, raw materials, intermediate products, etc. for export production are free of import duty.

(iii)    The procedure for import ant export through EPZs is very simple and speedy. Time consuming customs procedures for import into the Zones and exports from the Zones are kept to the minimum.

(iv)    Besides free trade, EPZs also emphasize on processing and value addition for the purpose of exports.
The objectives for setting up of EPZs are as follows:

(i)    Generating foreign exchange earning through exports.
(ii)    Creating employment opportunities.
(iii)    Attracting foreign capital.
(iv)    Transfer f technology (acquiring of advanced technology).
(v)    Acquiring and upgrading labour management skills.
(vi)    Linkages between EPZ industries and the domestic economy.

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