RAK Free Trade Zone woos Lebanese market in road show

Aiming to maximise the potential of the Lebanese market, Ras Al Khaimah Free Trade Zone (RAK FTZ) will conduct a road show, culminating in a seminar for business delegates on 5th November, 2009 at the Habtoor Grand Hotel, Beirut.

During the seminar, RAK FTZ representatives will present the various facilities and services of RAK FTZ, focusing on the USD 5,000 start-up promotion, which runs until 31st of December, 2009 and offers a low-cost business set-up in the UAE.

The scheduled seminar already garnered a lot of interest from the Lebanese business community, with 60 attendees clearly indicating their interest to know more about the free zone’s facilities in the UAE and RAK.

“Lebanon and the UAE have a longstanding trade relationship with each other. The proximity between our countries added to a common language and culture equals the perfect formula for a mutually-beneficial economic relationship,” Oussama El Omari, RAK FTZ’s CEO, shared. “We feel that the opportunity is ripe for Lebanese companies to take advantage of this and start investing and expanding their operations in the emirate.”

Investing in the UAE is made easy with the products and services available at RAK FTZ. Information on these facilities will be presented to the members of the Lebanese business community in attendance at the seminar, and will also be directed to free zone’s website www.rakftz.com, which holds comprehensive information, not only about the free zone but also about the business climate in the UAE and the rest of the Middle East.

Last year, Lebanon ranked the UAE as its topmost export market, with a total value of USD 346.3 million, a 42 per cent increase from 2007 exports to the UAE worth USD 243.8 million. The top products exported to the UAE are jewellery (50 per cent), machinery and equipment (14 per cent) and essential oils (4 per cent).

Lebanon also imported products from the UAE worth a total of USD 326.4 million dollars in 2008, a 49.5 per cent increase from imports valued at USD 218.3 million in 2007. The top products imported from the UAE include jewellery (32 per cent), aluminium and aluminium products (20 per cent), oil products (9 per cent) and sweets (7 per cent).

“We are extremely confident that this road show will be very well received by so many potential Lebanese partners. We have endeavoured to make all the information they need ready and accessible, and our value added services, such as recruitment and marketing consultancy, IT support and B2B matchmaking are designed to ensure that new companies coming to RAK FTZ are well-prepared to start their operations in the UAE”, Omari said.

RAK FTZ has recently intensified promotion of its various services and facilities, with the Lebanon road show quickly following on similar successful campaigns in India, Pakistan, Jordan and Syria.

Ras Al Khaimah Free Trade Zone (RAK FTZ) is a world-class business hub and a vehicle for industrial growth and development. The free trade zone, with its cutting-edge technology and keen customer focus, offers on-demand and custom-built support services to investors in a cost-effective and flexible environment. The free trade zone also offers a range of unique services, which include legal, human resources and marketing assistance.

RAK FTZ has created a system of four Parks – Business Park, Industrial Park, Technology Park and Al Ghayl Industrial Park – which offer identical advantages and benefits to investors. Backed by legislations allowing 100 per cent foreign ownership, a tax-free environment, transparent laws and 100 per capital and profit repatriation, the free trade zone is well positioned for global commerce.

Ras Al Khaimah Free Trade Zone is one of the fastest growing free trade zones, with companies from 106 countries around the globe. For more information, visit www.rakftz.com.