Business | Investment
RAK Free Trade Zone opens office in Germany to attract investment
The Ras Al Khaimah Free Trade Zone (RAK FTZ) has opened an office in Cologne, Germany, to provide companies from Germany and other European countries with information and assistance aimed at helping them establish their business in Ras Al Khaimah.
- Staff Report
- Published: 23:54 June 22, 2008
Ras Al Khaimah: The Ras Al Khaimah Free Trade Zone (RAK FTZ) has opened an office in Cologne, Germany, to provide companies from Germany and other European countries with information and assistance aimed at helping them establish their business in Ras Al Khaimah.
The move is a part of the zone's strategy to expand its business activities internationally.
The office will conduct marketing activities, provide information and meet potential clients on a one-to-one basis.
In addition to attracting businesses to Ras Al Khaimah, the role of the German office is also strengthening trade and industrial cooperation with German federal and state governments.
"Europe is one of our three most important markets," said Osama Al Omari, CCEO of RAK FTZ. "European companies already form 31 per cent of our clients and one in four enquiries from Europe come from Germany."
Seminar
The official opening of the office was marked by a seminar for German companies on opportunities in Ras Al Khaimah and the UAE. The event attracted over 40 participants.
Commenting on the opening, Al Omari said it will play a fundamental role in attracting German and European businesses to base their regional operations at the RAK FTZ by introducing potential investors to the business opportunities available at the RAK FTZ and its state-of-the-art facilities.
Commenting on the opening of the German office, Shaikh Faisal Bin Saqr Al Qasimi, chairman of RAK FTZ, said: "Bilateral relationships between Germany and RAK have been expanding rapidly through increased trade, tourism and investment flows."
He highlighted the importance of Germany as a prominent European country with which RAK FTZ is keen to share a bilateral relationship characterised by strong government-to-government cooperation and business ties.
European push
Shaikh Faisal also highlighted the importance of the zone's liaison office in Germany. He said it will play a fundamental role in attracting German and European businesses to the RAK FTZ.
RAK FTZ, which was declared the leading Emerging Free Zone in the region for a second year, has registered almost 5,000 companies, including international brands such as Knauf, Dole, DHL and Amoun Pharmaceuticals, with combined business volume exceeding Dh10 billion.
Share this article
More from Investment
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Tight security for air show
Police announce measures to keep people and property safe
-
Nokia aims for 300m customers by 2012
Core focus will be on messaging, maps and navigation, music and applications
-
Court orders freeze on all Saad assets
Many UAE banks exposed to troubled conglomerate
