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Global Free Zones gear up for RAK conference in Nov

DUBAI - Free zones operating across the globe will share experiences and best practices in light of the global downturn, at the upcoming World Free Zone Convention 2010, to be held in Ras Al Khaimah on November 2-3, 2010.

The 10th edition of this industry event, hosted by Ras Al Khaimah Free Trade Zone (RAK FTZ), is the first of its kind to be held in the Middle East and will see over 200 international and regional delegates reviewing the challenges facing free zones worldwide in the current economic scenario.

To be held under the patronage of His Highness Shaikh Saud bin Saqr Bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, the prestigious two-day conference and exhibition will take place at Al Hamra
Convention Centre.

The keynote address at the convention will be delivered by Her Excellency Sheikha Lubna bint Khalid bin Sultan Al Qasimi, UAE Minister of Foreign Trade, who was recently voted by Forbes magazine as the most powerful Arab woman and the 70th most influential woman in world politics. Top speakers at the event include His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman, RAK FTZ, and Graham Mather, Chairman, World Free Zone Convention Chairman and President of European Policy Forum, London & Brussels, along with a host of important speakers from different organisations around the world.

“The World Free Zone Convention 2010 will seek to address the most important concerns facing free zones across the globe,” explained Sheikh Faisal. “Through an honest assessment of the current scenario and constructive dialogue, we will be looking at the potential avenues to differentiate free zone offerings and create value for our customers.”

Shaikh Faisal added that the free zone representatives will also examine ways to further attract the small and medium business (SMB) sector to operate within their purview. “SMBs accounts for around 70 per cent of the world economy, , and free zones should tap into this important segment if they are to remain profitable,” he said. “At the same time, we will also be looking at how banks and financial institutions can create the environment for SMBs to operate smoothly 
within free zones.

In her keynote address, Shaikha Lubna will focus on how free zones in the UAE continue to contribute positively to the country’s economy and create ample opportunities for foreign trade. The minister will share her insights into how regional governments were encouraging the free zone concept to grow their economies. The conference will also look into relations and strategies between zones and government authorities, as well as private companies. Case studies of various sectors and companies will also be discussed during the forum.

“The timing of the World Free Zone Convention is of the highest importance to our industry because of the wave of new changes introduced by the economic scenario,” said Oussama El Omari, CEO of RAK FTZ. “WFZC 2010 is another excellent example of the real-world value that RAK FTZ, now in its 10th year, has created for regional players. By bringing this important event to the Middle East for the first time, we are providing regional free zones the opportunity to stay on top of the changes that will impact their operations.”

RAK FTZ is also the Platinum Sponsor of the two-day conference and exhibition, to be held under the theme ‘Gathering Global Support For Free Zone Industry’ and the slogan ‘Harnessing economic zones worldwide to the cause of economic recovery, dynamic growth and strengthened world trade.’ The Gold Sponsors for the event are HSBC, Morrison Menon Chartered Accountants, RAK Chamber of Commerce, supported by Bronze Sponsors Dolphin RAK Duty Free, and Business Action to Stop Counterfeiting and Piracy (BASCAP), among others.

—business@khaleejtimes.com