Published On: Fri, Oct 17th, 2014

Ras al-Khaimah to promote free zone in Brazil

Ras al-Khaimah Free Trade Zone, RAK FTZ,

Ras al-Khaimah Free Trade Zone, RAK FTZ,

A delegation from the Ras al-Khaimah Free Trade Zone, RAK FTZ, will be in Brazil during the last week of October to present business opportunities to Brazilian enterprises. According to a report from the Brazil Arab News Agency, ANBA, the group will be holding meetings in Rio de Janeiro on the 27th and in Sao Paulo on the 28th and 29th.

On the 29th, the delegation is delivering a seminar to executives at the Arab Brazilian Chamber of Commerce headquarters in Sao Paulo. The organisation’s CEO, Michel Alaby, said, “The lecture will explain the advantages of operating there and compare costs.” The RAK FTZ executives intend to show that the free zone can be an opportunity for Brazilian businesses looking to increase their sales to Asia, operating as an export platform. The free zone is interested in attracting businesses dealing in food and beverages, cosmetics and perfumery, machinery and metal works, vehicles and spare parts, building materials, chemical engineering and polymers, and services like marketing, information technologies and consulting.

The ANBA website explains that the building material industry is particularly strong in Ras Aal-Khaimah, which is home to steel, glass, cement and especially ceramics manufacturing plants. Energy-intensive activities benefit from the vast availability and the low cost of natural gas.

RAK FTZ offers 100% tax exemption and allows wholly foreign-owned companies. Currently, the free zone hosts 7,500 businesses from over 100 countries.

In addition to a seminar at the Arab Chamber, the delegation will attend three meetings at the Federation of Industries of the State of Sao Paulo, the City Hall and the Emirati Consulate-General, while in Rio, they have scheduled meetings at the Federation of Industries of the State of Rio de Janeiro and the City Hall. After Brazil, the group will travel to Argentina.

This year, U.A.E. imports from Brazil have reached in excess of US$2 billion from January to September, up 14% from the comparable period in 2013, according to figures from the Brazilian Ministry of Development, Industry and Foreign Trade. The main items shipped were sugar, poultry, aluminium oxide, iron ore, steel and iron pipes, trucks and semi-manufactured gold.

Conversely, the Emirates rank seventh among leading Arab exporters to Brazil, at US$337 million from January to September. The main products shipped were oil and oil products, urea, aluminium, polyethylene and glass.

Source : WAM News Agency for United Arab Emirates

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