NAFTZ Applauds FTZ Board for Commencing Comprehensive Review of Regulations

WASHINGTON, Jan. 3, 2011 /PRNewswire-USNewswire/ -- The National Association of Foreign-Trade Zones (NAFTZ) commends the Foreign-Trade Zones Board for commencing a comprehensive review of Foreign-Trade Zone (FTZ) regulations.

The NAFTZ has been the voice of the FTZ community since the Association's founding more than 35 years ago and is committed to being at the center of the process for revising the governing regulations, working with the Foreign-Trade Zones Board, and assuring that NAFTZ members have a strong voice in the changes that will be made.  The NAFTZ is pleased that the FTZ Board has already included several recommendations in the proposed regulations that the Association has advanced over the last few years, including an expedited application process for export manufacturing.

"We will work hard to ensure that each FTZ constituency has their viewpoint heard and understood," said NAFTZ President Will Berry. "We have established task forces within the NAFTZ to assure full participation by all members.  The process will be thorough, and our comments will touch all issues of importance to trade, Customs, and economic policy."

"The revision of the regulations initiates an important discussion about the role of FTZs in revitalizing the American economy," NAFTZ Chairman Linda Hothem said. "We welcome this process. The NAFTZ looks forward to collaborating with FTZ grantees, operators, users, service providers, state and local governments, and economic development groups all across the country to further establish the FTZ program as a key vehicle for creating U.S. jobs and investment and to meet the President's National Export Initiative goal."

FTZs are an important job creation and economic development tool, one that has been used across the country many times over the program's 76-year history to improve communities and to increase U.S. competitiveness.  The proposed regulations, which were published in the Federal Register on Thursday, December 30th, mark the first time since 1991 that the regulations will be substantially revised.

About NAFTZ

The National Association of Foreign-Trade Zones is a not-for-profit trade association with a membership representing over 360 public and private organizations involved in the foreign-trade zones program, including state and local governments, economic development organizations, distribution and warehouse firms, corporations engaged in exporting and importing, and professional and consulting firms.  The NAFTZ is the primary voice of communities and industries that utilize the FTZ program, including zone grantees, operators and users.

SOURCE National Association of Foreign-Trade Zones