Ras Al Khaimah Free Trade Zone delegation visits ABCC in Brazil

Nov. 24, 2014 - PRLog -- UAE, November 24, 2014: The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that it recently hosted a delegation from the Ras Al Khaimah Free Trade Zone (RAK FTZ), a free zone headquartered in Ras Al Khaimah, UAE, in Brazil. The high-profile delegation delivered a seminar at the Arab Chamber Space in Sao Paulo that showcased unique and attractive business opportunities in Ras Al Khaimah’s free zone to Brazilian enterprises. Senior executives presented to the audience the multiple benefits of operating from the RAK FTZ such as 100 per cent tax exemption and foreign ownership, low-priced offices and warehouses, and better opportunities to increase their sales in Asia, to name a few.

The RAK FTZ is particularly keen to draw companies in food and beverages, cosmetics and perfumery, machinery and metal works, vehicles and their parts, building material, and chemical engineering and polymers along with services industries including marketing, information technology, and consulting. Ras Al Khaimah boasts of a robust building material industry driven by the local presence of manufacturing plants for steel, glass, cement and ceramics. Moreover, energy-intensive industries gain from abundant natural gas available at a very low cost.

Dr. Michel Alaby, Secretary General and CEO of Arab-Brazilian Chamber of Commerce, said: “Brazil has excellent business relations with the UAE and the Arab-Brazilian Chamber of Commerce has always facilitated the further strengthening of our ties. With this aim, we recently hosted senior delegates from the RAK FTZ who delivered a seminar featuring the advantages of operating from their facility. The participation of many leading Brazilian businessmen made the seminar a huge success, giving participants an opportunity to network with RAK FTZ officials to gain deeper insight about the free zone in Ras Al Khaimah.”

The UAE is at the top of Brazil’s export targets for 2014. According to the statistics by the Brazilian Ministry of Development, Industry and Foreign Trade, Brazilian exports to the UAE between January and September 2014 earned over USD 2 billion, an increase of 14 per cent from 2013. The major items for exports include sugar, poultry, aluminium oxide, iron ore, steel and iron pipes, trucks, and semi-manufactured gold. Imports to Brazil from the UAE, on the other hand, generated USD 337 million during the same period. The main imports were oil & oil products, urea, aluminium, polyethylene, and glass.