UK Announces Locations of 8 New 'Freeports'

The United Kingdom has announced the location of eight new “freeports” -- streamlined ports and airports with “simpler planning, infrastructure funding and cheaper customs” based off the U.S. foreign-trade zone model. In a March 3 speech to Parliament, Chancellor of the Exchequer Rishi Sunak announced the locations to be East Midlands Airport, Felixstowe and Harwich, Humber, Liverpool City Region, Plymouth, Solent, Thames and Teesside. The U.K. announced the idea of the freeports in August 2019, pledging to create up to 10 (see 1908020025). The sites were selected via a Freeports Advisory Panel composed of the ministers of the Department of International Trade and HM Treasury, along with trade and business experts.