Volume # 02 | February, 2013

UAE Freezones Biz News Updates

Top-level Turkish business delegation visits RAK FTZ; eyes closer trade ties

During the meeting with the Turkish delegation.

In a step aimed at boosting the trade relations between Turkey and Ras Al Khaimah, UAE, a high-level business delegation from Ankara visited Ras Al Khaimah Free Trade Zone (RAK FTZ) - one of the fastest-growing and most cost-effective free trade zones in the UAE.

The delegation, which comprised six top businessmen, representing various business sectors, was led by Veysel Seker, Advisor to the Turkish parliament.

Maryam Al Murshedi Al Shehhi, Deputy Director General, RAK FTZ, received the delegation on their arrival at the free zone. During the meeting, RAK FTZ representatives and the visiting businessmen discussed a wide array of subjects for cooperation between the free zone and the country. The visiting delegation later toured the RAK FTZ facilities and held discussions with top officials of the free zone.

The one-day visit also involved discussions about the unique facilities and the salient advantages of setting up businesses and investments within the free zone. They also visited the RAK Chamber of Commerce and Industry, and met with their representatives on areas of strategic cooperation.

The delegation included the CEOs of Ankara-based companies representing the construction, foodstuff, port management and marble manufacturing industries, among others. The visit focused on exploring the investment opportunities in the fast-growing emirate of Ras Al Khaimah, especially in the construction, port management and related sectors.

Talking about the visit, Al Shehhi said, "Turkey is a very important and strategic market for us. Traditionally, the UAE has enjoyed strong and close trade relations with the country, and the visit of the high-level business delegation to RAK FTZ is a strategic step forward in our trade ties. We discussed a wide range of sectors for closer business relations and see a lot of fruitful cooperation stemming out of this visit. This mission was a great opportunity to strengthen our positioning as a business hub geared at helping SMEs from Turkey to set up base in RAK FTZ and grow their presence in the Middle East, given our strategic location. We see a strong commitment from Turkey to enhance its trade relations with RAK FTZ and the UAE."

The visiting delegation praised the world-class facilities and logistics, government support and transparent policies on offer at RAK FTZ and the immense business potential it offers for the Ankara-based businesses in view of its strategic location.

The UAE is considered the new logistic hub of the GCC and the Middle East, and a strategic entry market for the Turkish companies. The UAE-Turkey trade exchange is on a steady growth and is forecast to ramp up to $10bn by 2015. Turkey, the ninth biggest economy of the world, boasts of a sound economy, and eyes the UAE as a strategic market with lots of Turkish companies looking at the UAE as a hub for their exports into the Far East and Africa.

Currently, there are 250-plus Turkish companies operating in RAK FTZ.

28 Jan 2013

Free Zones Of UAE

Volume # 02 | February, 2013

UAE Freezones Biz News Updates

Courtesy AME Info FZ LLC

Emirates Of UAE

Business

UAE Offshore