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In a recent event that underscored the burgeoning economic ties between China and the United Arab Emirates (UAE), a group of 34 Chinese business owners embarked on a journey to Ras Al Khaimah, one of the seven emirates that make up the UAE. Their mission? To delve into the dynamic business environment and investment prospects within the Ras Al Khaimah Economic Zone (RAKEZ), a thriving hub for international trade and commerce.
The Visit: A Gateway to Opportunities
During their enlightening visit, the delegation had the privilege of touring the cutting-edge facilities housed within RAKEZ, including those of U-PAK and Mabani Steel located in RAKEZ’s Al Hamra Industrial Zone. These state-of-the-art facilities exemplify the zone’s commitment to fostering innovation and providing world-class infrastructure to support businesses of all scales.
Insights and Collaborations
Engaging discussions with representatives from key entities such as Ras Al Khaimah Port and esteemed real estate developers Marjan and RAK Properties offered the Chinese entrepreneurs invaluable insights into the robust infrastructure and the seamless business environment that RAKEZ offers. The fruitful exchanges paved the way for potential collaborations and investments, laying the groundwork for mutually beneficial partnerships between Chinese enterprises and their counterparts in Ras Al Khaimah.
A Testimony to Strong Bilateral Relations
RAKEZ Group CEO, Ramy Jallad, emphasized the significance of such visits in fortifying the longstanding ties between China and Ras Al Khaimah. With over 220 Chinese companies already flourishing within RAKEZ, the CEO reiterated the zone’s unwavering commitment to bolstering its offerings to support the expansion endeavors of international enterprises. Notable Chinese entities within RAKEZ span various sectors, including plastic waste recycling, oilfield chemicals manufacturing, equity ownership, and machinery provision, highlighting the diverse array of opportunities available within the zone.
Strengthening Global Trade Partnerships
The visit not only underscores the UAE’s pivotal role in China’s global trade strategy but also highlights the enduring bilateral relations between the two nations, spanning over four decades. As China’s largest trade partner in the Arab region, the UAE serves as a crucial gateway for re-exporting approximately 60% of Chinese trade to over 400 cities across the Middle East and North Africa. This symbiotic relationship not only facilitates trade but also fosters cultural exchange and collaboration on multiple fronts.
Future Prospects and Initiatives
In a bid to further fortify these robust relations, the RAKEZ team is actively engaging in strategic meetings in China, laying the groundwork for future collaborations and investments. Additionally, plans are underway to host more Chinese entrepreneurs, government officials, and media representatives in Ras Al Khaimah, solidifying its status as a dynamic hub for international business and investment.
As the global economic landscape continues to evolve, partnerships between nations like China and the UAE are poised to play an increasingly pivotal role in driving innovation, fostering economic growth, and creating opportunities for businesses worldwide.
