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UAE Freezones Biz News Updates
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Jafza to strengthen cooperation with the British business community
Jebel Ali Free Zone, Jafza, has hosted the UK Business Forum for British
companies operating in the free zone to strengthen partnerships and explore
opportunities in the Middle East and African region.
The forum was held with the attendance of Paul Fox, British Consul-General
in Dubai, Mohammed Al Muallem, CEO of Jafza and Senior Vice President and
Managing Director of DP World UAE Region, and senior officials from renowned
companies including Jaguar Land Rover Middle East, Barloworld Logistics,
Liberty Building Solutions, Momin Oil Industry FZCO and Quest Middle East.
Speaking on the occasion, Sultan Ahmad bin Sulayem, Group Chairman and CEO
of DP World and Chairman of the Ports, Customs and Free Zone Corporation,
said, "The forum is part of our efforts to strengthen cooperation and
partnership with the British business community in Dubai and learn about
their strategic plans. This will further boost our relationship with the UK
and increase trade between our two countries.
"DP World’s investments in the UK through London Gateway and Southampton
have established a new era of partnership between the UAE and the UK adding
value to the economy and British companies by enabling efficient global
trade. Under the guidance of Vice President, Prime Minister and Ruler of
Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, we are working
towards strengthening the role of the UAE and Dubai in the future of the
global economy. The number of British companies in Jafza has increased by 7
percent year-on-year in the past five years to over 400. In 2016, Jafza
registered 21 new companies that wanted to develop and expand their
operations to the Middle East and Africa."
Mr. Fox said, "I am delighted to be part of this forum to celebrate the
established relationship between the UK, DP World and Jafza. Our bilateral
relations with the UAE date back to 1979 during the first visit of Queen
Elizabeth II to this country. The British Embassy continues to work with
Jafza to enhance business relations and support British companies operating
from the free zone. The companies operating in Jafza mainly benefit from the
logistical advantages of the free zone that acts as a gateway to local and
regional markets."
Mark Mckay, Senior Manager, Ernest & Young Middle East, presented a paper
entitled ‘The impact of the introduction of VAT in the GCC on Free Zones’,
explaining the procedures expected to be applied to companies operating in
free zones when the tax comes into effect early next year.
The value of trade between Dubai and the UK reached AED28 billion in 2016
where the imports comprised AED19.6 billion, exports valued at AED1.4
billion and re-export were AED7 billion.
April 16, 2017
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Courtesy Dubai Media Incorporated
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