World Free Zones Organisation and Dubai Free Zone Council sign MoU

WAM -- H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zone Council, and Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organisation, WFZO, have signed a Memorandum of Understanding (MoU) aimed at establishing a framework for co-operation, to exchange expertise and knowledge, organise seminars and courses, and develop work in Dubai’s free zones.

Under the terms of the MoU, the council will promote the WFZO’s membership, services, activities and sponsorship, following the announcement of Dubai’s hosting of the fourth and sixth editions of the WFZO’s Annual Conference and Exhibition in 2018 and 2020. The fourth edition will be held from 30th April to 2nd May, 2018, under the theme, "10x Free Zones: The Road to Prosperity", with the participation of global free zone leaders, experts and representatives.

The WFZO will develop plans for conducting seminars and training courses for Dubai’s free zone employees, and co-ordinate with the council in the former’s participation in external events and attendance in local and international conferences and meetings.

During the signing, Sheikh Ahmed bin Saeed stressed the council's commitment to support all efforts aimed at enhancing the competitiveness of Dubai’s free zones and to elevate their role in the international economy. He expressed his happiness at the achievements of the organisation and its distinguished journey, since its launch in Dubai.

H.H. Sheik Ahmed said, "The general framework of the MoU focusses on the pillars and objectives of the council's strategy, to ensure the collaborative work of intellectual leadership and increase awareness about the benefits of free zones worldwide. The Dubai Free Zone Council has played an important role in supporting all government and private sector initiatives to enhance Dubai's position as a global hub for foreign direct investment. We are confident that through our partnership with the World Free Zones Organisation, we will move to the forefront of knowledge and the global economy, through our participation in the organisation's activities and its membership under the council, which was formed in Dubai to embrace international free zones under one umbrella and help to advance free zones development worldwide.

Following the signing of the agreement, Dr. Al Zarooni said, "The WFZO will complement the important role of the Strategic Council, and will be one of the most important supporters of the efforts to develop the role of free zones and make Dubai a top global destination for foreign direct investment. The organisation was established to support free zones, to increase its contributions to the local, regional and international economies."

Dr. Al Zarooni emphasised that the WFZO’s close affiliation with one of the most important international councils of free zones is an important opportunity for its more than 307 members, to take advantage of Dubai's exceptional model as a leading free zone hub, ranking on top of the world's most competitive indices.

WAM/Tariq