A delegation from the Ras Al  Khaimah Free Trade Zone (RAK FTZ) visited the Philippines seeking to enhance trade between the UAE and the Philipines.

The mission, let by RAK FTZ chief executive officer Peter J Fort, sought to create new investment relationships between the two countries and share the free zone’s benefits with Filipino investors.

Fort conducted a series of high-level meetings with key government and investment bodies in Manila over a two-day period. This first RAK FTZ marketing trip to the Philippine capital was part of a RAK FTZ initiative to facilitate the growth and expansion of successful Filipino companies in the Middle East, anchored in the business-friendly investment environment of Ras Al Khaimah.

“Ras Al Khaimah was recently ranked by fDI Magazine, a subsidiary of Financial Times Ltd, as one of the top 10 global small and medium-sized cities of the future, along with Belfast, Edinburgh, Zurich and Geneva, among others,” Fort said.

“This ranking recognises the fact that Ras Al Khaimah is a significant international business destination that allows Filipino companies to see strong returns on their investments.”

“Filipino investors can set up trading, marketing and sales offices, regional headquarters, as well as trading and logistics hubs at RAK FTZ that will allow them to easily access key global markets with their products and services, while maintaining the option to keep their base of operations in the Philippines. There is a huge potential to grow the GCC market with Filipino products and services and expand their businesses, particularly in food and beverages, furniture, and agriculture,” he said.

The team met with government agencies, companies, industry associations, and local chambers of commerce, sharing advantages that the free zone’s base of growing companies are already enjoying.

There are currently 19 active Filipino companies registered at RAK FTZ, benefitting from operational costs that are as much as 50 per cent lower than in other emirates, allowing the companies to generate higher profits.

The free zone offers fast-track licensing and registration, investor, employee and dependant visa issuance, freedom to source labour and materials from around the world and ongoing business support services including advertising, recruitment and training for employees, procurement, document attestation and translation, insurance and other business support.

“During our meetings with Filipino stakeholders in Manila, we demonstrated the ways in which we provide efficient and effective, tax-free business set-up solutions for aspiring entrepreneurs and international companies from all industry sectors that want to enter the thriving Middle East market,” said Fort.

“RAK FTZ provides 100 per cent foreign ownership in cost-effective, world-class and fully customisable facilities. Our warehouses may be used for storage as well as for manufacturing and assembly. We also provide offices for those who wish to supplement their trading activities with facilities that are more appropriate for corporate administrative, logistical and marketing functions. RAK FTZ is the right place to establish and grow your company,” he added. - TradeArabia News Service