MONTREAL, Que. – In an effort boost the city’s logistics and transportation industry, the Economic Development Agency of Canada has granted Greater Montreal the Foreign Trade Zone designation.

It is the 13^th such designation granted by the federal government.

The move was announced by CargoM, which works to bolster the city’s competitiveness in the industry.

With the FTZ designation, Greater Montreal will be eligible for various duty exemptions in the purchase or import of raw materials, CargoM said.

The zone will also enjoy tax benefits when re-exporting such goods.

“With the Foreign Trade Zone designation, Montreal has just acquired another tool to boost its attractiveness as an international trade hub and gateway to North America, for the great benefit of our importers and exporters as well as the entire logistics and transportation sector,” said Mathieu Charbonneau, executive director of CargoM.

Federal Transportation Minister Marc Garneau said the designation will streamline access to government programs and services.

“In addition to fostering economic growth, this will help local businesses optimize their exports abroad and in turn, generate more jobs at home.”

The logistics and freight transport sector accounts for more than 120,000 jobs and 6,000 businesses in Greater Montreal, bringing in $4.3 billion in annual economic benefits, CargoM said.