RAK FTZ positive on Moscow trade visit

13/10/2010 - Ras Al Khaimah Property News
RAK FTZ positive on Moscow trade visit

Posted by Bob Brunskill

The Ras Al Khaimah Free Trade Zone (RAK FTZ) has reported on its recent trade delegation to Moscow which aimed to promote investment opportunities in the emirate.

In a statement, RAK FTZ confirmed that it participated with HSBC and other trade consultants during the mission. This follows the signing of a strategic cooperation covering a wide range of partnership initiatives between the free zone and financial institution.

RAK FTZ reported that it held interactive sessions and consultative meetings with potential investors at the Hotel Baltschug Kempinski Moscow.

Commenting on the visit, Oussama El Omari, chief executive officer of RAK FTZ, said it had been "a very fruitful mission" and that the free zone was already witnessing "very positive signs".

"There are over 300 companies from Russia and the former Soviet Republics registered with the free zone since 2004. Of these, nearly 200 companies are from Russia alone; and the list is growing. We are determined to boost this trade exchange between the two countries," he added.

RAK FTZ has said that it aims to register over 2,000 companies by the close of 2010 having recorded ten per cent year-on-year growth last year.

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