Abu Dhabi-based Emirates Auction (EA) has signed a co-operation agreement with Ajman Free Zone to sell the seized cargo at the free zone through online auctions.

As per the deal, EA will organise online auctions to sell cargo that has been seized based on orders from the Judicial Committee that falls under the Dispute Settlement Committee in the Ajman Free Zone, and in accordance to the best global practices.

Through this agreement, the Ajman Free Zone looks to implement the best global practices for selling seized cargo based on judicial orders, remarked Mohammed Al Midhani, the director of the Department of Inspection and Labor Affairs, after signing the pact with Omar Matar Al Mannai, the executive director of Emirates Auction, in the presence of Fatima Salem, the acting director-general of Ajman Free Zone.

The deal will benefit the community and generate revenues for investment in the free zone, in addition to providing potential bidders with the opportunity to purchase the cargo at the best prices, he stated.

Commenting on the agreement, Salem said the agreement was another step forward towards smart transformation for Ajman Free Zone, especially since the online auctions saves both time and effort, which contributes to enhancing efficiency and facilitating transactions.

Al Mannai said that the EA was keen to sell the seized cargo of Ajman Free Zone in accordance to the best standards, which will ensure that the free zone will witness attractive returns, as well as provide bidders the opportunity to purchase the cargo at competitive prices.

The co-operation with Ajman Free Zone, he stated, represents a great addition to the list of partners for Emirates Auction, and it reflects the prominent reputation of the company’s services in the country and the region.

"EA is keen to continue the positive growth of the company by working to achieve the goals of its partners and clients, as well as attract bidders to participate in the online and public auctions organised by the company," added Al Mannai.-TradeArabia News Service