A delegation from Ras Al Khaimah Free Trade Zone (RAK FTZ), the second-largest free zone in the United Arab Emirates, is visiting the western and southern United States as it looks to cement existing relationships, establish new ties and showcase investment opportunities for US companies.
An official delegation led by Peter J Fort, RAK FTZ CEO, will begin the series of high-level meetings in Los Angeles, California on 8 December 2014. Mr Fort will lead an intensive, five-day schedule of one-on-one meetings and presentations to companies, industry associations and local chambers of commerce in and around Los Angeles, Houston and Dallas. With over 500 US companies already established in RAK FTZ, the delegation will be building on a strong base.
Ras Al Khaimah is one of the seven emirates that comprise the United Arab Emirates (UAE), along with Dubai and Abu Dhabi. The UAE has become a leading global destination for foreign investment, as a result of its political stability, sound economic policies, business-friendly regulatory environment and zero-tax regime. Within the UAE, RAK FTZ provides international investors a safe and secure environment in which to establish and grow their business operations, ranging from SMEs to subsidiaries of leading global companies. Less than an hour's drive from Dubai, RAK FTZ offers a strategic geographical location that provides clients with easy access to a wide range of countries across the Middle East, Africa, Europe and South Asia.
Over the last 14 years, RAK FTZ has blossomed into a cost-effective gateway to fast-growing regional and global markets and is today the investment destination of choice for more than 8,000 companies from over 100 countries, representing more than 50 industry sectors.
RAK FTZ provides the same free zone benefits - including 100 per cent foreign ownership and world-class, ready-made facilities - that are available elsewhere in the UAE, but for substantially lower costs than free zones in other emirates, allowing clients to achieve the maximum return on investment. The free zone makes it as easy as possible to establish a business in the UAE, with fast-track licensing and registration, investor and worker visa issuance, freedom to source labour and materials globally, and ongoing business support services. With business solutions tailored to individual company needs, RAK FTZ offers business centre facilities, offices, warehouses and land for lease across four specialised free zone parks.
"The UAE and US are long-term economic partners and enjoy a robust trade and investment relationship that has grown dramatically in recent years. 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," Mr Fort said.
"Texas and California rank among the top 10 US states in exports to the UAE. This inaugural road show in the US marks yet another important milestone in RAK FTZ's strategic development, and highlights our commitment to the world's largest economy," Mr Fort said. "The shift in international trade patterns, and also the rise to prominence of the southern corridor that links China, the MENA region and Sub-Saharan Africa, has further consolidated the UAE's geographically significant position and Ras Al Khaimah's reputation as the gateway to the powerhouse markets of today and of the future."
Mr Fort and his team will present a detailed picture of the business set-up opportunities and benefits available to US investors who are considering Ras Al Khaimah and RAK FTZ as a market entry point.
"In addition to our existing 212 US clients, we are seeing growing 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 privilege of operating in a 100 per cent tax-free environment."
