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ID-76-86 1 (1976-09-22)

handle is hein.gao/gaobabkkj0001 and id is 1 raw text is: RELEASED. -- ?,,.It to be rleased outside the General ntheale of speific approval Sjq h- ' c.. eonal Jlnt'onN, a record of which ~~~ettr1- 4c:; . by iti L ftrimtion Section, flu 'iainsBach A COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON. D.C. 20M B-l72255 SEP 2 2 1976 The Honorable Gillis W. Lon3 CK4irman, Subcommittee on Inter-American Economic Relationsh'ps Joint Economic Committee Congress of the United States Dear Mr. Chairman: Your letter of July 19, 1976, asked us to address the issues set forth below relating to'current operations and potential benefits of expahding Foi-eign Trade Zone Number 2. New Orleans, Louisiana. (See enc. I for background information on this Trade Zone.) Your expressed need for an early response did not allow sufficient time for a detailed examination of these issues. Therefore, we gathered and analyzed the data below through cons;ulting with the Executive Secretary of the 2 0 = Foreian Trade Zones Board and interviewing officials of the Board of Commissioners of the Port of' New Orleans; the Chamber of Commerce oZ New Orleans; U.S. Customs Service Headquarters and its New Orleans District; and selected users of the New Orleans zone. Before addressing the issues,,it may be helpful to ooserve that foreign merchandise can enter a foreign trade zone without the usual formal customs entry procedures and duty payments unless and until it is shipped from the zone for domestic consumption. Then the importer has the choice of paying duties either on the original foreign materials or on the finished product. Domestic merchandise that is moved into the zone is considered exported for the purpose of customs and internal revenue laws and regulations. Additionilly, merchandise entering the zone can be sold, exhioite(:, broken up, repacked, assembled, stored, sorted, graded, cleared, mixed with other foreign or domestic merchandise, and otherwise manipulated or manufactured. ID-76-86 0 ;2

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