CBRM To Be Home of New Foreign Trade Point
The CBRM is now a Foreign Trade Point.
Sydney-Victoria Liberal MP Mark Eyking announced the new Cape Breton Regional Municipality FTZ at a press conference early Saturday morning.
The Foreign Trade Point includes the Port of Sydney, McCurdy Airport and the surrounding logistics and warehousing capabilities.
Foreign Trade Points are locations designed to provide businesses with easy access for eligibility for tariff and tax exemptions on the purchase or importing of raw materials, components or finished goods. Seventy-five thousand dollars is being invested into the project by both the municipality and the federal government.