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UAE Freezones Biz News Updates
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Jebel Ali Free Zone signs MoU with Franco-Arab Chamber
Jafza attracts strong industry interest at Doing Business in Dubai
conference in Paris
Jebel Ali Free Zone (Jafza) signed a Memorandum of Understanding (MoU) with
Franco-Arab Chamber of Commerce on the sidelines of “Doing Business in
Dubai” conference held lately in Paris.
The MoU was signed by Ebrahim Al Janahi, Deputy CEO of Jafza and Dr Saleh
Bakr Al Tayar, Secretary General of Franco-Arab Chamber of Commerce.
The objective of this MoU is to increase bilateral collaboration between
Jafza and France.
The MoU focused on promoting bilateral activities between the two parties
through exchange of information on activities, policies and collaboration
opportunities to facilitate increase in business between the parties and
their respective countries. The activities included organisation of
missions, visits, seminars, business meetings and workshop.
Jafza also highlighted the UAE’s latest strategic initiative of its bid to
bring World Expo 2020 to Dubai which could hugely boost growth opportunities
for investors who have chosen Dubai and Jafza for their regional operations.
Jafza-France bilateral trade and business relations have been growing at an
average of 15 per cent on year-to-year basis during the last more than a
decade but looking at the opportunities in the region, the growth pace can
easily be doubled in the coming years, said Ebrahim Mohammad Al Janahi,
Deputy CEO of Jafza, at the event.
“Jafza-France bilateral trade has more than tripled to reach Dh3.9 billion
in 2011. In 2012, the trade is expected to cross Dh4.5 billion posting a
growth of 20 per cent over its trade in 2011. With huge business
opportunities for French companies in the Middle East the growth pace can
easily be doubled in the next 5 years. The “Doing Business in Dubai”
conference in Paris is an important step forward in that direction.
Infrastructure development
The region is now focused on diversifying its economy from oil to non-oil
sectors. More than $4 trillion (Dh14.6 trillion) is expected to be spent in
the region on infrastructure development in the next 10 years. This provides
huge opportunities for French businesses in the region,” said Al Janahi in
his welcome note at the conference.
“Doing Business in Dubai” was a joint initiative between Jafza, Bin Shabib&
Associates, Arago and Franco-Arab Chamber of Commerce. The conference sought
to create awareness about Dubai’s value proposition as the Middle East
region’s unique trade and logistics hub and one of the world’s most favoured
investment destinations, among French business community.
Al Janahi’s welcome note was followed by a detailed presentation of Adel Al
Zarouni, SVP, Jafza Commercial Sales, on Jafza’s strategic strengths as the
trade and logistics hub of the wider Middle East region comprising West
Asia, South Asia, Africa and the CIS.
Other expert speakers at the conference included Michael Kortbawi, Partner,
Bin Shabib& Associates, Bertrand Dumon, Co-founder of Arago, Rima Mrad,
Partner, Bin Shabib& Associates, LaurantMoury, Co-founder of Arago and Dr
Saleh B. Al Tayer, Secretary General of Franco-Arab Chamber of Commerce who
dealt with diverse subjects ranging from the overview of the legal and
economic environment in the UAE to methodology of setting up a business in
Dubai and in Jafza. The discussions also covered areas such as structuring
efficient business hubs for large corporations-tax advantages and residence
visas in UAE to how to obtain and uphold a residency in the UAE, and tax
treaties between the UAE and French/ EU countries.
Jafza, through the conference, succeeded in attracting strong industry
interest. A large number of French companies have shown their keen interest
in setting up their base in the Free Zone to explore business opportunities
in the region.
The conference was attended by more than 100 leading French companies from
diverse sectors ranging from oil & gas, fashion, pharmaceuticals, aviation
to machinery, electronics and automobiles.
18 April 2013 |
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Courtesy Al Nisr Publishing LLC
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