Ras Al Khaimah, United Arab Emirates: His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, today welcomed the Italian Ambassador to the UAE, Liborio Stellino, to Ras Al Khaimah for discussions on trade.

Sheikh Saud and Ambassador Stellino reviewed details of the long-standing cooperation between Ras Al Khaimah and Italy and discussed ways to further develop trade and economic relations.

The Italian Ambassador praised the level of trade and investment relations between Ras Al Khaimah and Italy, stating that an advantageous investment climate was luring more Italian companies here. He also commended the increasing level of tourism from Italy to these shores.

At present, there are 9 Italian companies operating under Ras Al Khaimah Economic Zone (RAKEZ), with interests ranging from automotive assembly, water treatment, wooden door and window building, scrap metal and even cheese manufacturing. Italfood, a popular artisan brand of cheese in Italy, creates authentic creamy mozzarella from its facility in Ras Al Khaimah, supplying the whole of the UAE.

Visitors to Ras Al Khaimah from Italy increased by 3.74% in 2018 compared to the previous year and RAK Tourism Development Authority has conducted workshops for the travel trade to increase destination awareness in Milan, Rome and Turin in recent years. On February 21, 2019, Ras Al Khaimah will host the Ferrari Cavalcade, an international event that will see 200 Ferrari owners from across the globe descend on Jebel Jais to drive their supercars to the peak of the UAE’s highest mountain. 

His Highness Sheikh Saud said:

“Italy is an important trade partner with Ras Al Khaimah and that partnership is only becoming stronger as we develop our capacity to attract and retain investment from a variety of sectors.

Ambassador Stellino and I will continue to discuss ways of further improving our bilateral trade.”

The meeting was attended by a number of senior Government of Ras Al Khaimah officials.


About His Highness Sheikh Saud

His Highness Sheikh Saud bin Saqr Al Qasimi is a Member of the Supreme Council of the UAE and Ruler of Ras Al Khaimah (RAK). Born in Dubai in 1956, he was educated in RAK before attending the American University of Beirut. He later moved to the University of Michigan, graduating with an Economics Degree.

He returned home in 1979 and was appointed Chief of the Ruler’s Court before becoming Chairman of RAK Municipal Council in 1986. In this period, H.H. Sheikh Saud founded RAK Ceramics and restructured Julphar Pharmaceuticals and RAK Rock to ensure both became the industry leaders they are today.

H.H. Sheikh Saud was named Crown Prince of Ras Al Khaimah on 14 June 2003. In this role he oversaw the introduction of free zones, efficient business licensing procedures and offshore corporate registration.

On 27 October 2010, after the passing of his father H.H. Sheikh Saqr (May he rest in Peace), H.H. Sheikh Saud became the Ruler of Ras Al Khaimah. As Ruler, he has continued to expand and diversify Ras Al Khaimah’s economic base and improve the quality of its social services, while working hard to make high-quality education and healthcare services available to all the Emirate’s population.

H.H. Sheikh Saud received an Honorary Doctorate from the University of Bolton, UK, in 2010; an Honorary Fellowship of the Jawaharlal Nehru Centre for Advanced Scientific Research in India, in 2013; and an Honorary Doctorate Degree in Economics from Incheon National University, South Korea, in 2018.

About Ras Al Khaimah

Ras Al Khaimah (RAK) is the northernmost of the seven Emirates that make up the United Arab Emirates. It is known for its rich history, dating back 7,000 years, and diverse landscape, from 64km of pristine beaches, to terracotta deserts and an imposing mountain backdrop. The Emirate is home to the highest peak in the UAE, Jebel Jais, which features the world’s longest zip line, at almost 3km.

RAK is also centrally located at the modern crossroad between Europe and Asia, with one third of the world’s population within four hour’s flying time, making it an ideal location for businesses to expand into the UAE, the Middle East and Africa and beyond. 

At the Emirate's economic heart lies several major companies and sectors - industrial (including RAK Rock and Stevin Rock’s quarries, RAK Ceramics and Julphar Pharmaceuticals); RAK Ports; RAK Economic Zone; banking via RAKBANK; RAK Gas and tourism. Supporting these industries is a modern infrastructure, state-of-the-art industrial areas and business parks and world-class hotels, facilities and attractions for tourists. 

For the past decade, Ras Al Khaimah has been consistently rated ‘A’ by international rating agencies (Fitch and Standard & Poor’s) and already the Emirate is home to about 15,000 businesses, with almost 37,000 companies from 100 countries having trade licenses here. RAK Courts is also the second-fastest court in the world at enforcing contracts in commercial disputes.

For media inquiries kindly contact:

Tarek Kamal Eldine 
Media Relations Specialist 

T +971 7 2076469
M +971 50 8829649 
E tarek.kd@rakmediaoffice.ae  

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.