Freeports Advisory Panel set up

Freeports are hubs for business and enterprise for both manufacturing and services trade. These could be free of unnecessary checks and paperwork, and include customs and tax benefits. These zones are intended to reduce costs and bureaucracy, encouraging manufacturing businesses to set up or re-shore. The most successful Freeports globally are reported to attract businesses and create jobs for local people through liberalised planning laws.

According to the Government, Freeports will ensure Britain’s port cities and airports are ready to take full advantage of post-Brexit opportunities, including increased trade with the USA and fast-growing Asian markets as the UK signs it first free trade deals with global partners.