UAE’s leading economic zone Ras Al Khaimah Economic Zone (Rakez) has signed a Memorandum of Understanding (MoU) with Poland’s Katowice Special Economic Zone (Katowice SEZ) with an aim to stimulate trade and investment opportunities between the UAE and Poland, creating synergies for cooperation and development for both economic zones, Rakez said in a statement.

 

The MoU was signed by Ramy Jallad, Rakez Group CEO, Janusz Michałek, President of Katowice SEZ, and Monika Bryl, Deputy President of Katowice SEZ, in the presence of representatives from both organisations. The signing ceremony took place at the recently opened Rakez Compass Coworking Centre. 

 

The signing extends an invitation to Polish businesses to expand to the UAE market and explore the opportunities in the Middle East and North Africa (Mena) region, as well as encourages the UAE business community to explore investment opportunities available in the Polish market. 

 

"The UAE-Polish economic relations span for decades across numerous fields. With this agreement, we look forward to reinforce the bilateral trade exchange and boost investment tie-ups between both countries,” said Jallad. 

 

“Ras Al Khaimah offers a unique ecosystem for businesses across various sectors, enabling them to flourish and expand their activities in to the lucrative UAE, regional and global markets. With this valuable partnership, Rakez looks forward to welcoming Polish investors and is committed to providing all the support they require to join Ras Al Khaimah’s flourishing business community of over 40,000 companies.”

 

Commenting on the event, Dr Michałek said: “We are exceptionally pleased to sign the MoU with Rakez. The fact that the UAE and Poland’s two leading economic zones join forces makes us deeply convinced that this will create new business opportunities and will stimulate trade, contributing to the economic development of both of our countries. We are looking forward to mutual cooperation, exchange of knowledge and best practices which will surely strengthen the investment offer of both zones and will also lay the ground for new, exciting projects in the future.”

 

During the delegation’s visit, the members also met with officials Ultimate Armour Works, as well as toured Caresoft Global and MetalFab ME based in Al Hamra Industrial Zone of Rakez.  

 

A number of Polish companies have set up base in Ras Al Khaimah. These companies enjoy the strategic location of the emirate, ease and cost-effectiveness of doing business, and access to bigger and newer markets. There are many synergies between the two locations, both enjoying strong manufacturing backgrounds, particularly in the automotive and growing BPO sectors. –TradeArabia News Service