A free trade zone (FTZ) or export processing zone (EPZ) is an area of a country where some normal trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes of attracting new business and foreign investments.It is a region where a group of countries has agreed to reduce or eliminate trade barriers.Free trade zones can be defined as labor intensive manufacturing centers that involve the import of raw materials or components and the export of factory products. The worlds first Free Trade Zone was established in Shannon, Co. Clare, Ireland Shannon...