The Free Port
Under free port regulations goods reaching the port by land from Italy or the EU are considered definitively exported, and goods of foreign origin arriving by land are considered foreign goods in transit. Goods arriving from abroad by sea may transit freely and be sent to their foreign destinations. By virtue of exclusive regulations on customs credits, customs duties on goods destined for import may be paid after 6 months at reduced annual interest rates. The port's special extra-customs status also allows commercial operations to be carried out on goods deposited under the foreign regimen. Repackaging, labelling, industrial processing etc. are also possible under the same terms. Besides being the responsibility of the Port Authority (a publicly run body) management of the port's warehouses is also conducted by many private companies - forwarding companies or port terminal operators - working in complete autonomy within the Port Authority regulations.
The status of the Free Port Zones has remained a distinctive feature of the Port of Trieste throughout its history. Granted in 1719 by the Habsburg Monarchy and restricted in 1891, this special status has been confirmed by subsequent peace treaties, by the European Community and by the Italian Parliament. Most port land is subject to this rule and therefore lies outside the jurisdiction of European Union Customs.
Five Free Port Zones are defined as follows:
- Old Free Zone
- New Free Zone
- Timber Terminal Free Zone
- Mineral Oil Free Zone
- Industrial Free Zone
The Old Free Port, the most ancient complex of facilities, was designed by Paul Talabot and built between 1868 and 1883 according to a port and railway development plan aimed at consolidating the role of Trieste as a trading centre for all territories under Austro-Hungarian rule. Today it is considered a key component of Trieste's cultural heritage and a large-scale project has been conceived for its revitalisation. A modern multipurpose terminal, the Adria Terminal, has recently been created alongside the older installations.
The New Free Port is the result of a project begun in the early 20th century in response to the growth of trade with the Middle East and Far East created by the opening of the Suez Canal. Completed to a large extent in the 1920s and 1930s, it has been further extended since the 1960s with the development of a container terminal at Pier 7 and a ro-ro/ferry terminal at Riva Traiana. The remaining Free Zones include - in addition to the timber and oil terminals - part of the Zaule industrial canal, which serves the (EZIT) Industrial District, established after the Second World War.
Read more about this topic: Port Of Trieste
Famous quotes containing the words free and/or port:
“We must be free or die, who speak the tongue
That Shakespeare spake; the faith and morals hold
Which Milton held.”
—William Wordsworth (1770–1850)
“The triumphs of peace have been in some proximity to war. Whilst the hand was still familiar with the sword-hilt, whilst the habits of the camp were still visible in the port and complexion of the gentleman, his intellectual power culminated; the compression and tension of these stern conditions is a training for the finest and softest arts, and can rarely be compensated in tranquil times, except by some analogous vigor drawn from occupations as hardy as war.”
—Ralph Waldo Emerson (1803–1882)