Agreement signed to boost Dubai’s free zones
dubai — Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zone Council, and Dr Mohammed Al Zarooni, chairman of the World Free Zones Organisation (WFZO), have signed a memorandum of understanding aimed at establishing a framework for cooperation in exchanging expertise and knowledge, organising seminars and courses, and developing work in Dubai’s free zones.
Under the terms of the MoU, the council will promote the membership, services, activities and sponsorship of the WFZO following the announcement of Dubai’s hosting of the fourth and sixth editions of the WFZO’s annual conference and exhibition in 2018 and 2020.
For its part, the WFZO will develop plans for conducting seminars and training courses for Dubai’s free zone employees and coordinate with the council in the former’s participation in external
The Dubai Free Zone Council has played an important role in supporting all government and private sector initiatives to enhance Dubai’s position as a global hub for FDI Sheikh Ahmed
events and attendance in local and international conferences and meetings.
During the signing, Sheikh Ahmed — who is also President of the Dubai Civil Aviation Authority, Chairman of Emirates airline and Chief Executive of the Emirates Group — affirmed the council’s commitment to supporting all efforts aimed at enhancing the competitiveness of Dubai’s free zones and elevating their role in the international economy. He expressed his happiness over the achievements of the organisation and its distinguished journey since its launch in Dubai.
“The general framework of the MoU focuses on the pillars and objectives of the council’s strategy to ensure the collaborative work of intellectual leadership and increase awareness on the benefits of free zones worldwide,” Sheikh Ahmed said. “The Dubai Free Zone Council has played an important role in supporting all government and private sector initiatives to enhance Dubai’s position as a global hub for foreign direct investment,” he added.
Following the signing of the agreement, Dr Al Zarooni said the World Free Zones Organisation will complement the important role of the strategic council and will be one of the most important supporters of efforts to develop the role of free zones and make Dubai a top global destination for foreign direct investment.
“The organisation was established to support free zones in increasing its contributions to the local, regional and international economies,” he added.
Dr Al Zarooni emphasised that the WFZO’s close affiliation with one of the most important international councils of free zones is an important opportunity for its more than 307 members to take advantage of Dubai’s exceptional model as a leading free zone hub ranking on top of the world’s most competitive indices.
The fourth edition of the WFZO’s annual conference will be held in Dubai from April 30 to May 2, 2018 under the theme ‘10x Free Zones: The Road to Prosperity’, with the participation of global free zone leaders, experts and representatives.
— business@khaleejtimes.com