Final answer:
EPZs and FTZs play a crucial role in facilitating exports and streamlining trade operations by offering advantages such as tax incentives and simplified customs procedures.
Step-by-step explanation:
When it comes to international trade, countries often face red tape and bureaucratic delays in the export and import process. To overcome these barriers and facilitate exports, some countries designate certain areas known as export processing zones (EPZs) or free trade zones (FTZs). These areas are specifically designed to attract foreign investment, promote exports, and streamline trade operations by offering advantages such as tax incentives, simplified customs procedures, and infrastructure development.
EPZs and FTZs help to reduce the bureaucratic hurdles and costs associated with exports, making it easier for businesses to engage in international trade. By providing a more favorable trade environment, these designated areas can attract foreign companies, boost economic growth, and create job opportunities. They serve as important tools for countries to enhance their competitiveness in the global market and foster economic development.