Dubai Airport Free Zone Authority (Dafza) has announced the signing of a MoU with Federation Israeli Chambers of Commerce (FICC) to define frameworks for bilateral cooperation between the two sides in the field of encouraging and supporting Israeli companies to establish their businesses and take advantage of commercial and investment opportunities and incentives.
They were presented by the Dafza during a virtual ceremony held remotely, in the presence of Dr. Mohammed Al Zarooni, Director General of the Dafza, and Uriel Lynn, President of the FICC.
Through the memorandum, Dafza will promote Dubai as a global trade center offering a stimulating business environment for Israeli firms to introduce them to the nature of business and investment opportunities.
Dafza will be providing the companies of the FICC with incentive offers to establish businesses and integrated services in this context, by supporting startups, as Israel is the second incubator for emerging companies in the world in addition to e-commerce companies that will benefit from the free zone specialised in e-commerce - Dubai Commercity, which will enable them to gain access to the different e-commerce system in the emirate with competitive incentives agreed upon by both sides.
Also, the two parties will cooperate in the field of exchanging information and experiences to achieve common goals, in a way that contributes to introducing the companies of the two countries to the vital business environment for establishing and developing their business, in addition to promoting the services and facilities provided by Dafza and FICC.
Dr Al Zarooni affirmed that this agreement reinforces the commitment of Dafza as a vital tributary to the growth of the UAE economy in general and the emirate in particular, given its position as a global destination for business growth and prosperity and a vital engine for the economy of Dubai.
"Dafza enjoys a strategic location that makes it a gateway to Asian markets, as it will redirect trade movement smoothly, faster and more efficiently to those markets through the emirate of Dubai, which provides important commercial opportunities for Israeli companies," he added.
The Dubai Airport Free Zone Authority seeks to attract more foreign investments and support them, as this agreement emphasizes the role of Dafza in encouraging companies from various sectors to launch and expand their business in Dubai by providing all facilities, competitive incentives, and other services that reflect Dubai's leadership in the business scene at the regional and global level.
Lynn said: "The signing of the agreement with Dafza is a historic event that will go down in history as an example what can be achieved in our world if 2 countries are bent on creating more prosperity for their people."
"It will be a mutually advantageous for Dubai and the Israeli business community, as more business will utilize the developed facilities and services in Dafza, and create a bridgehead for Israeli business for enhancing its foreign trade in products and services. The message of peace will take a form of working together for the people of both countries," stated Lynn.
In 2019 machinery and electrical and electronic equipment ranked first with 55% of the total foreign trade in 2019, with a value of AED37.4 billion for imports and AED53 billion for exports and re-exports.
This was an increase of 14.3% or AED11.3 billion in Dafza’s total trade. Precious stones and metals followed this with 38% of the total import value at AED29.6 billion and AED32 billion in exports and re-exports, he added.-TradeArabia News Service