THE UK government has announced plans to create up to 10 new free ports – low- or no-tax industrial havens – to boost the country's economic growth post-Brexit.

The move could create thousands of jobs in the UK's established ports, the Treasury predicts, and Welsh secretary Simon Hart said a free port in Wales could generate "significant regional economic growth".

Under the plans, benefits of free ports could include making imported goods tariff-free until they enter the UK market.

Other benefits could mean that no duty would be payable if those goods were re-exported. When raw materials are imported and processed into other products, duty would only be paid on that final product.

A 10-week consultation has been launched, after which the UK government will invite sea, air, and rail ports to bid for free port status, with the aim of announcing the locations of the new zones at the end of 2020.

“The development of free ports will create innovation hubs across the UK, generating new ideas in a whole host of UK sectors, from customs to transport to decarbonisation," Mr Hart said.

“A free port in Wales could create hundreds of jobs and facilitate significant regional economic growth. That is why I urge businesses to engage with our consultation and help us to unleash our potential in innovation, investment and growth.

"Working closely with the Welsh Government and businesses, we will ensure that the whole of the UK can feel the benefits.”