The opportunities and benefits available to US based companies on setting up business enterprises in the Ras Al Khaimah Free Trade Zone (RAK FTZ) was highlighted by a delegation of the zone during a luncheon panel hosted by the US-UAE Business Council and the Los Angeles Chamber of Commerce, in Los Angeles, California, US, recently.

HH Sheikh Ahmad Bin Saqr Al Qasimi, chairman of RAK FTZ, gave the keynote address at the occasion, followed by a panel discussion led by Peter Fort, CEO of RAK FTZ, explaining its aim to cement existing relationships, establish new ties, and showcase investment opportunities in the emirate of Ras Al Khaimah (RAK) and to grow their exports to the Measa (Middle East, Africa and South Asia) markets and beyond, said a company statement.

The UAE is strategically located as a hub for this region of over three billion people, which is poised to be the fastest-growing group of countries over the next decade, it added.

“The UAE and the US are long-term economic partners and enjoy a robust trade and investment relationship that has grown dramatically in recent years,” said Al Qasimi.

“With one of the most open and dynamic economies in the world, the UAE offers an attractive proposition for US businesses and entrepreneurs, from service and trading companies to manufacturers and educational institutions, to gain traction in the Middle East region and access other potentially lucrative markets in Africa and South Asia,” he added

Over the last 14 years, RAK FTZ has rapidly expanded into a cost-effective gateway to fast-growing regional and global markets and today is the investment destination of choice for more than 8,000 companies from over 100 countries, representing more than 50 industry sectors.

RAK FTZ provides a comprehensive set of products and services for its clients to quickly and easily expand their businesses to the UAE and increase their exports to the fast-growing regional markets.

In the Los Angeles luncheon, the RAK FTZ delegation was joined by honourable guests Abdulla Alsaboosi, United Arab Emirates Consul General; Alexis Serfaty, vice president, US-UAE Business Council; Carlos J Valderrama, senior vice president, Global Initiatives, Los Angeles Area Chamber of Commerce; Kelli Bernard, deputy Mayor of Los Angeles for Economic Development and Edwin Woodsome, managing partner at Dechert.

“In addition to our existing 200 US clients, we are seeing increasing levels of interest from US companies, undoubtedly boosted by the RAK FTZ reputation for providing the most cost-effective business establishment solutions in the region, plus the advantage of operating in a 100 per cent tax-free environment,” said Fort.

The RAK FTZ delegation will also be hosted by the US-UAE Business Council at a luncheon panel in Houston, Texas, on 11 February, as part of the high-level visit to the US.

The delegation will be joined by honourable guests Ed Gonzalez, Mayor Pro Tem of Houston Texas; Alexis Serfaty, vice president of the US-UAE Business Council; Aida Araissi of the Bilateral US-Arab Chamber of Commerce and John R Brantley, partner at Bracewell & Giulliani in Houston, Texas, it added. – TradeArabia News Service