Ras Al Khaimah Free Trade Zone Returns to China to Boost Trade Relationship

Ras Al Khaimah Free Trade Zone Returns to China to Boost Trade Relationship

His Highness Sheikh Ahmad Bin Saqr Al Qasimi, Chairman of Ras Al Khaimah Free Trade Zone (RAK FTZ), led a free zone delegation to China to further strengthen the existing trade and investment cooperation between the UAE and China.

Ramy Jallad, Acting CEO, RAK FTZ, has also joined the Chairman in carrying out a series of follow-up meetings and investment seminars in the cities of Guangzhou, Shenzhen and Foshan, from 31 August to 3 September. All of these cities were recently visited by the free zone delegation during its second trip to China last May 2015.

“RAK FTZ is the perfect gateway for China’s initiative of establishing the economic belt and maritime Silk Road of the 21st Century. Chinese investors can successfully enhance overseas investments and enter the key global markets by using RAK FTZ as a regional trading and re-export hub,” said HH Sheikh Ahmad. “RAK FTZ eliminates the burden from taxes and customs duty, as well as provide access to major logistical centres. This makes it easy to transport goods from China to the UAE, and then onwards Europe, Africa, and the rest of the Middle East.”

At present, numerous Chinese companies are taking advantage of the free zone’s 100 per cent company ownership, fully customisable business infrastructure, cost-effective business set-up, and reliable client support. Among them is Li Jie International Trading FZC, a purchasing company that deals with the procurement of non-ferrous metal residue and scrap.

“Partnering with RAK FTZ places us in a very good position to serve the global market, and it provides us with ideal facilities and business solutions at a very effective cost,” said Liming Jin, General Manager of Li Jie International Trading FZC.

Prior to the free zone’s return to China, RAK FTZ received a prominent Chinese delegation that consisted of more than 40 Chinese Business Council members as well as Chinese diplomats. The two-day meeting, from 27-28 August, was made possible with the support of RAK Chamber of Commerce, RAK Tourism Development Authority, and Al Marjan LLC.