Sea, air and rail ports in England will be invited to bid for freeport status before the end of the year, with the government aiming for the first freeport in the UK to be open for business in 2021.
Under the freeport structure, a firm can import goods into a freeport without paying tariffs, process them into a final good and then either pay a tariff on goods sold into the domestic market, or export the final goods without paying UK tariffs: www.logisticsmanager.com