Crank up mining royalties on Iron ore, page-213

" A Free Trade Zone is a tax-free area where goods can be landed and ‘value added’, through handling and manufacturing, and re-exported without the intervention of customs. These zones generally focus on labour intensive manufacturing goods, such as textiles and electrical equipment and often have reduced environmental and labour controls. The Colón Free Trade Zone located on the Panama Canal is one successful example. Due to its geographical location Colón acts as a major manufacturing hub for goods destined for Latin America"

(Source Aus Gov submission # 147)

IMO, this is too broad a definite because it does not focus on our local high wage inputs which is our #1 weakness.
and does not account for our strengths which are local Iron Ore & Met Coals and other Aussie minerals.
It is more in line with the Chinese Models where all the materials are imported and local labour is used.