A new Foreign Trade Zone has been established from Southwest Eighth Street to the Broward County line that is aimed at giving American businesses’ a competitive hand in the global economy. This is especially beneficial to the Miami downtown area which claimed the fifth largest export market in the U.S in 2010.
. “Florida businesses have a powerful new tool: those that use the zone will now save substantially on import duties and processing fees in addition to having stronger security measures and faster delivery of goods. This is good news for Florida exporters that will help spur Florida’s economic recovery,” declared Paul Piquado, the department assistant secretary for import administration. DRT International, who has been in the import and export business since 1996, is excited about the benefits and savings to South Florida businesses and the potential stimulation to the local economy. DRT International CEO Desmond Falla commented, “The creation of a new Foreign Trade Zone at PortMiami will enable our customers to save on import duties and processing fees at the same time incurring faster delivery times of goods. This is a win for businesses and the trade industry of Miami.