What are the different types of free zones?

What will be an ideal response?

Free zones vary greatly in size, from large multistate regions to small subzones located in a single building. The largest are called free trade areas (FTAs) and are made up of two or more states that have agreed to let some or all of each other's enterprises carry on their trades across and within each state's borders free from customs tariffs and other restrictions. The oldest type of free zone is the free city, in which a port city is opened to international trade. The free trade zone is the modern variant of the free city. Rather than granting free trade status to an entire city, states instead designate smaller areas, usually within or near port cities, as free trade zones. A subzone is a special-purpose free zone associated with, but physically apart from, a free trade zone, in which limited-purpose trading activities are carried on. Export processing zones (EPZs) are free zones in which manufacturing facilities process raw materials, or assemble parts imported from abroad and then export the finished product. For customs purposes, the materials and parts are treated as if they never entered the host country at all. Thus, no tariffs or other duties are paid either when they are imported or when they are exported. Free retail zones are areas in international airports and harbors where travelers can buy goods free of local sales and excise taxes.