6 November, 2007

SHETLAND is asking a group of consultants to look into obtaining free zone status for its harbours and airports.

The local council has already agreed to appoint consultants to look into the future of the oil port at Sullom Voe.

Yesterday (Monday) Shetland Development Trust decided to ask the consultants, who should be in place by next month, to also investigate the islands joining the UK's existing free zones in Liverpool, Prestwick, Sheerness, Southampton and Tilbury.

A free zone allows goods to be handled without incurring import and excise duties, as well as VAT on imports.

The trust heard that free zone status is useful where "significant imports of low value" can be processed and then exported at a higher value.

Initially the idea was just to look at the potential of harbours to be examined, but Rick Nickerson won support for the consultants to look at airports as well.