International Traders of Iowa to hold panel discussion on benefits of free trade zones

Business owners, students and others can learn about the opportunities and benefits of free trade zones at a presentation in Cedar Rapids, Iowa later this month.

The eastern Iowa chapter of the International Traders of Iowa (ITI) will present a panel discussion on the state's free trade zones from 11:30 a.m. to 1:30 p.m. on March 28 at the Hotel at Kirkwood Center, the Marion Chamber of Commerce said.

The panel members include Tami Petsche, vice president of economic development for the Quad Cities Chamber of Commerce and the administrator for Foreign Trade Zone No. 133; Marty Lenss, director of Eastern Iowa Airport and administrator for Foreign Trade Zone No. 175; and David Leamy, an import compliance official for Deere & Co. in Moline, Ill.

Free trade zones, also known as foreign trade zones, are designated areas where raw materials, product components and other goods can be imported duty-free. Finished or assembled products can then be sent to the importing nation after the required duties are paid.

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