RAS AL KHAIMAH, 27 January 2015: Peter J Fort, CEO, Ras Al Khaimah Free Trade Zone (RAK FTZ), led a delegation to the Philippines seeking to enhance trade between the United Arab Emirates (UAE) and the Philippines. The mission sought to create new investment relationships between the two countries and share the free zone's benefits with Filipino investors.

Mr Fort conducted a series of high-level meetings with key government and investment bodies in Manila over a two-day period from 26 January to 27 January 2015. This first RAK FTZ marketing trip to the Philippine capital was part of a RAK FTZ initiative to facilitate the growth and expansion of successful Filipino companies in the Middle East, anchored in the business-friendly investment environment of Ras Al Khaimah.

"Ras Al Khaimah was recently ranked by fDI Magazine, a subsidiary of Financial Times Ltd, as one of the top 10 global small and medium-sized cities of the future, along with Belfast, Edinburgh, Zurich and Geneva, among others," Mr Fort said. "This ranking recognises the fact that Ras Al Khaimah is a significant international business destination that allows Filipino companies to see strong returns on their investments."

Mr Fort continued: "Filipino investors can set up trading, marketing and sales offices, regional headquarters, as well as trading and logistics hubs at RAK FTZ that will allow them to easily access key global markets with their products and services, while maintaining the option to keep their base of operations in the Philippines. There is a huge potential to grow the GCC market with Filipino products and services and expand their businesses, particularly in food and beverages, furniture, and agriculture."

By meeting with government agencies, companies, industry associations, and local chambers of commerce, the RAK FTZ delegation shared the advantages that the free zone's base of growing companies are already enjoying. There are currently 19 active Filipino companies registered at RAK FTZ, benefitting from operational costs that are as much as 50 per cent lower than in other emirates, allowing the companies to generate higher profits. To name a few of the companies, O.W.H International Trading FZC is a general trading company; Pro-C.E.S.S. FZE does electrical measuring, control systems and power control switchgears manufacturing; and Tucay Roman Law FZE is a law firm.

Tucay Roman Law expanded in 2012 from Manila to RAK FTZ to take advantage of the free zone's ongoing business support services and strategic geographical location. The company, which has operations in both Manila and Ras Al Khaimah, has blossomed as a boutique law firm for individuals with high net worth who are seeking to invest in the UAE and the region.

The company chose to set up in RAK FTZ because "RAK FTZ, as we all know, is a gateway to emerging markets and one of the fastest-growing free trade zones in the UAE, providing excellent service to its clients," said company owner and attorney Carmen Tucay Roman. "The most significant benefits of being located in Ras Al Khaimah and in RAK FTZ are the convenience in setting up, and that the cost of doing business in Ras Al Khaimah is lower than in other emirates."

RAK FTZ makes it quick and easy to establish and grow a business in the UAE. The free zone offers fast-track licensing and registration, investor, employee and dependant visa issuance, freedom to source labour and materials from around the world and ongoing business support services including advertising, recruitment and training for employees, procurement, document attestation and translation, insurance and other business support.

Mr Fort said: "During our meetings with Filipino stakeholders in Manila, we demonstrated the ways in which we provide efficient and effective, tax-free business set-up solutions for aspiring entrepreneurs and international companies from all industry sectors that want to enter the thriving Middle East market. RAK FTZ provides 100 per cent foreign ownership in cost-effective, world-class and fully customisable facilities. Our warehouses may be used for storage as well as for manufacturing and assembly. We also provide offices for those who wish to supplement their trading activities with facilities that are more appropriate for corporate administrative, logistical and marketing functions. RAK FTZ is the right place to establish and grow your company."

About Ras Al Khaimah Free Trade Zone Authority:
Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the fastest growing and most cost-effective free trade zones in the United Arab Emirates (UAE). With a reputation for affordability, flexibility and broad geographical reach, RAK FTZ is rapidly emerging as the preferred business hub in the region. Investors can easily access its business-friendly services, and branch into emerging markets.

Since the establishment of RAK FTZ in May 2000, the free zone has gone from strength to strength, garnering accolades and awards along the way. With only a handful of staff and a few offices in 2000, the free zone has grown by leaps and bounds and is now home to 8,000 active companies from over 100 countries around the world. It employs nearly 400 full-time staff, operates business and promotion centres in three locations in the UAE, and has an expanding international presence, with liaison offices in Germany, Turkey and India. To learn more about RAK FTZ, please visit www.rakftz.com

Media Contact:
Cleo Eleazar
Public Relations and Events Manager
Ras Al Khaimah Free Trade Zone Authority (RAK FTZ)
Phone: +971-7-2077173
E-mail: c.eleazar@rakftz.com

© Press Release 2015