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Ras Al Khaimah Free Trade Zone

RAK Free Trade Zone team visits Brazil

UAE, November 25, 2014

The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that it recently hosted a delegation from the Ras Al Khaimah Free Trade Zone (RAK FTZ), a UAE free zone, in Brazil.

The high-profile delegation delivered a seminar at the Arab Chamber Space in Sao Paulo highlighting the unique business opportunities in Ras Al Khaimah’s free zone to Brazilian enterprises.

Senior executives presented to the audience the multiple benefits of operating from the RAK FTZ such as 100 per cent tax exemption and foreign ownership, low-priced offices and warehouses, and better opportunities to increase their sales in Asia, to name a few.

The RAK FTZ is particularly keen to draw companies in food and beverages, cosmetics and perfumery, machinery and metal works, vehicles and their parts, building material, and chemical engineering and polymers along with services industries including marketing, information technology, and consulting.

Ras Al Khaimah boasts a robust building material industry driven by the local presence of manufacturing plants for steel, glass, cement and ceramics. Moreover, energy-intensive industries gain from abundant natural gas available at a very low cost.

Michel Alaby, secretary general and CEO of ABCC, said: “Brazil has excellent business relations with the UAE. The participation of many leading Brazilian businessmen made the seminar a huge success, giving participants an opportunity to network with RAK FTZ officials to gain deeper insight about the free zone in Ras Al Khaimah.”

The UAE is at the top of Brazil’s export targets for 2014, according to the statistics by the Brazilian Ministry of Development, Industry and Foreign Trade.

 Brazilian exports to the UAE between January and September 2014 earned over $2 billion, an increase of 14 per cent compared to 2013.

The major items for exports include sugar, poultry, aluminium oxide, iron ore, steel and iron pipes, trucks, and semi-manufactured gold. Imports to Brazil from the UAE, on the other hand, generated $337 million during the same period. The main imports were oil and oil products, urea, aluminium, polyethylene, and glass. – TradeArabia News Service




Tags: RAK FTZ |

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