Transshipment Center (Noun)
Meaning
A port where merchandise can be imported and then exported without paying import duties; "Bahrain has been an entrepot of trade between Arabia and India since the second millennium BC".
Classification
Nouns denoting spatial position.
Examples
- Hong Kong has long served as a major transshipment center for international trade due to its favorable tax policies and strategic location.
- Singapore operates as a transshipment center, re-exporting merchandise that was initially brought to the country without paying customs duties.
- The Port of Shanghai has become a significant transshipment center in recent years, connecting Asia with Europe and the rest of the world.
- The free trade zone in Dubai positions the emirate as a transshipment center between Europe and the regions of Asia and Africa.
- As a transshipment center, the island nation of Sri Lanka handles large volumes of merchandise from various nations without taxing its imports for re-export.