Over 40 Free Trade Zones in Latin America commit to being part of World Free Zones Organization

Nov. 23, 2014 - PRLog -- [Dubai, United Arab Emirates - November 22, 2014]: Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organization (World FZO) and Dr. Samir Hamrouni, CEO of World Free Zones Organization (World FZO) have recently attended the 17th Conference of Free Zones of the Americas in Panama City. The conference, which was organized by the Asociación de Usuarios de la Zona Libre de Colón (AU) and the Asociación de Zonas Francas de las Américas (AZFA), saw the attendance of over 400 delegates from Latin and North America as well as the Caribbean Region.

In his speech, Dr. Al Zarooni emphasized on the importance of enhancing the collaboration and transformation of knowledge between free zones, which is one of the key objectives of the World FZO.

Dr. Al Zarooni said, “We see the potential of free zones in promoting global trade, increasing economic growth and creating more job opportunities, but more work is still required. We need to share information about the policies that will make zones more credible force for development and prosperity in the global economy. We need to encourage and conduct more research into the potential of free zones—bringing these opportunities into reality. In addition, there is also a need to improve the public perception of free zones as a force for increasing development and prosperity through open commerce.”

Dr. Al Zarooni shared the successful experience of the Dubai-based free zones and the active role they play towards contributing to the national GDP. He also pointed out that the strong government support has resulted in quick decision-making and immediate implementation of verdicts and programs. Dr. Al Zarooni further explained that the UAE has free zones operating under different business models catering to various industry verticals.

The same sentiments were expressed earlier this month at the World FZO Board of Directors meeting held in Dubai. At the same time the Board voted for the appointment of new Board Member, Juan Pablo Rivera, President of the Zona Franca Bogotá South America and Martin Ibarra as the new Vice Chairman of the Organization, both active members of the AZFA.

Meanwhile, Dr. Hamrouni gave a presentation that explained how the World FZO will benefit AZFA members as well as other free zones around the world by offering several key services, such as knowledge sharing, networking opportunities and trainings.

World FZO also received the applications of 40 new members from across Latin America, during the exhibition, including free zones from Paraguay, Panama, Colombia, Dominican Republic, Costa Rica, Bolivia, Guatemala, Salvador, Puerto Rico, Argentina, Mexico, Haiti, Nicaragua.

The World FZO will be hosting their first annual conference in May 2015.