Dubai pioneer in implementing free zone model

Free zones contribute to the opening of new investment prospects to diversify the sources of domestic income, increase job opportunities for future generations, and therefore contribute effectively to development of the economies.

Dubai — Shaikh Ahmed bin Saeed Al Maktoum, president of the Dubai Civil Aviation Authority (DCAA), chairman of Dubai Airports and chairman and chief executive of Emirates airline and Group, on Monday visited the first conference and exhibition of the World Free Zones Organisation (World FZO), the multi-lateral not-for-profit, global association for free zones.

At the opening of the conference, Shaikh Ahmed was briefed on the event in the presence of a distinguished gathering of policymakers, academics, economists and entrepreneurs. The 2015 edition of the conference focuses on the theme, ‘Towards a New Global Trade Order’ and is held under the patronage of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Shaikh Ahmed was accompanied during the visit by Dr Mohammed Alzarooni, World FZO Chairman and Director General at Dafza, board members of the World Free Zones Organisation and delegations participating in the event. In his meeting with the board members, Shaikh Ahmed praised their strategic role in the development of national and international economies and the role of free zones in enhancing international trade.

Shaikh Ahmed stated that the first annual conference represents a significant step in the development of the World Free Zones Organisation in relation to the export of free zones expertise and enhancing their trade and investment impact in the global economy. In addition, he said with continued government support, Dubai has succeeded in establishing itself as an impressive international economic force and an influential pioneer in the implementation of the free zone model and a major destination for foreign investment and international trade.

“The event demonstrates the commitment and vision of the World Free Zones Organization, aimed at strengthening the role of free zones in advancing the growth of the global economy. Free zones contribute to the opening of new investment prospects to diversify the sources of domestic income, increase job opportunities for future generations, and therefore contribute effectively to development of the economies,” he said.

World FZO Chairman Dr Mohammed Alzarooni, said: “Free Zone Outlook International gathers some of the world’s leading economic and trade experts to discuss the most pressing issues facing free zones and global free trade flow today. High profile trade and free zone experts will share knowledge and expertise as to how the free zone model is being used around the world to achieve specific national, regional and international economic and business objectives.” He added: “As the global association for free zones, we have a strategic role to play in facilitating the exchange of best practice and present platforms such as the Annual Conference to explore how we can augment and further develop the role of free zones. This is to enhance international trade, and ensure countries are optimized for international investment, without changing the rules for entire nations.”  The first annual international conference and exhibition takes place between May 11-13, 2015, provides a platform that enables international delegates to discuss best practices and the latest emerging trends to achieving sustainable growth in the macroeconomic environment.