Dubai: Mohammad Al Zarouni, Chairperson of the World Free Zones Organisation (World FZO), has called upon members of the American National Association of Foreign Trade Zones to benefit from the services that the organisation will offer its members.
In order to promote the free zones’ advantages, the newly established World FZO aims to partner with other trade organisations, including the World Customs Organisation and the World Trade Organisation, Al Zarouni said.
“No one can deny that the free zones’ services and solutions have become a critical tool for companies competing in the global economy. The need for an international body to advocate free zones and establish standard collaboration between the thousands of free zones spreading over the world was an essential step,” Al Zarouni said.
This initiative reflects the vision of Dubai’s leadership to bring all free zones under one umbrella to address common issues and exchange views, he said. “There is a lot in the pipeline that Dubai will offer to ensure the success of the organisation’s objectives,” he added.
He highlighted the need for enhanced collaboration and transfer of knowledge between the free zones spreading globally to ensure economic growth and more job opportunities.
More than 35 per cent of world trade is exported via free zones, he said.
Meanwhile, Daniel Griswold, President of NAFTZ, said that the association is “eager to work with other zones professionals around the world to strengthen the rule of law, encourage compliance with trade rules and establish global standards for best practices and governance in the monitoring of free zones.”
Dubai currently has over 22 free zones that accommodate 20,000 companies and employ around 225,000 people.
“These corporations operating in the free zones have successfully participated in a large number of projects in the region and have a great positive impact on the region’s economy,” Al Zarouni said.
