RAK to host Arab-Latin America Business Council
Ras Al Khaimah, UAE - 26 April 2016
A delegation of Latin America Ambassadors and other senior diplomats visited Ras Al Khaimah today to discuss the establishment of a first-of-its-kind strategic economic partnership between Ras Al Khaimah and Latin America.
The mission, headed by H.E. Jean-Paul Tarud, Ambassador of the Republic of Chile to the UAE, met with H.E. Sheikh Mohamed bin Kayed Al Qasimi, Chairman of RAK Economic Development Department, H.E. Sheikh Salem bin Sultan Al Qasimi, Chairman of RAK Civil Aviation Authority, Mr. Salah Abou Al Magd, Secretary General of Arab-Latin America Business Council and heads of RAK government entities.
Dr. Abdul Rahman Al Shayeb Al Naqbi, Director General, Department of Economic Development of Ras Al Khaimah spoke about the Arab-Latin America Business Council's endeavour in recognising the economic future of Ras Al Khaimah and its relentless mission to be part of the economic, commercial and tourism development in the emirate, and stressed the cooperation of all stakeholders to achieve common interests and strengthen the bonds of this relationship.
H.E. Jean-Paul Tarud, Ambassador of the Republic of Chile to the UAE said: "We are so happy to be in Ras Al Khaimah - this is a golden opportunity to be present in this ambitious emirate. This initiative, which combines the economies and cultures of the different continents will be the beginning of a new era of cooperation and investments in various fields, which will be beneficial to everyone, and achieve integrated economic and cultural development between peoples."
Imad Eddine Oubiri, Director, Investment Promotion, RAK Chamber of Commerce & Industry said: "Ras Al Khaimah has many advantages that make it an attractive place to invest, and a strong economic partner. Ras Al Khaimah's GDP rose by 53.8% in the period between 2010 and 2014 - an exciting push from the emirate's economy, with an objective to raise its revenue to 2.4 billion dirhams." With regard to RAK's foreign trade, Mr. Oubiri stated that between 2011 and 2015 it totaled 9 billion dirhams, with imports amounting to 3 billion dirhams, exports 3.6 billion dirhams, and re-exports 2.4 billion dirhams - confirming that the Emirate has made great strides in the field of export and re-export.
Ahmed Numan, Group Director, Marketing and Corporate Communications, at RAK Free Zone Authority and Ras Al Khaimah Investment Authority touched on the activities of the Emirate's free zones, judged among the best in UAE due to their value-added services, and the diversity of free zone options and areas providing investors with wider choices, and distinct logistics services.
Salah Abou Al Magd, Secretary General, Arab-Latin America Business Council said: "We are proud to collaborate with Ras Al Khaimah's economic entities and authorities, as this partnership will be a communications bridge between Arab and Latin American countries, and aims to promote economic cooperation by providing information and communication, through forums, economic conferences, trade exhibitions, trade missions and other activities between the two regions in order to introduce the business sector and the general public to the economic, social, cultural and tourism benefits.
The one-day visit included an audience with H. H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and a tour of Ras Al Khaimah's most prominent landmarks. The visit was concluded by a business meeting with various Ras Al Khaimah authorities and the local community in order to jointly overview economic, cultural and tourism opportunities as well as potential economic projects for Ras Al Khaimah and Latin America.
© Press Release 2016