May 19, 2016
The Federal Government announced the creation of a Foreign Trade Zone (FTZ) Point in the Cape Breton Regional Municipality (CBRM) in Nova Scotia.
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 Duty Deferral Program, the Drawback Program, the Customs Bonded Warehouse Program, the Export Distribution Centre Program and the Exporters of Processing Services Program.
Business Cape Breton is overseeing the development of the Foreign Trade Zone Point in CBRM. The Atlantic Canada Opportunities Agency is coordinating the FTZ Point Task Force that will provide easy access to information on federal and provincial government programs and includes members such as Business Cape Breton, the Port of Sydney, and the Province of Nova Scotia.
The CBRM FTZ Point encompasses the Port of Sydney, the JA Douglas McCurdy Airport, and the surrounding logistics and warehousing capabilities.