09 February 2015
Ras Al Khaimah, UAE - A delegation from the Ras Al Khaimah Free Trade Zone (RAK FTZ) was hosted by the US-UAE Business Council and the Los Angeles Chamber of Commerce at a luncheon panel today, in Los Angeles, California, as RAK FTZ looks to cement existing relationships, establish new ties, and showcase investment opportunities in the emirate of Ras Al Khaimah (RAK).  Following keynote remarks by the Chairman of RAK FTZ, His Highness Sheikh Ahmad Bin Saqr Al Qasimi, Peter Fort, CEO of RAK FTZ, led a panel discussion highlighting the opportunities and benefits available to US, specifically for Los Angeles-area-based companies interested in learning more about setting up a business enterprise in the UAE to grow their exports to the MEASA (Middle East, Africa and South Asia) markets and beyond.  The UAE is strategically located as a hub for this region of over three billion people, which is poised to be the fastest-growing group of countries over the next decade.

 "The UAE and the US are long-term economic partners and enjoy a robust trade and investment relationship that has grown dramatically in recent years," said Sheikh Ahmad. "With one of the most open and dynamic economies in the world, the UAE offers an attractive proposition for US businesses and entrepreneurs, from service and trading companies to manufacturers and educational institutions, to gain traction in the Middle East region and access other potentially lucrative markets in Africa and South Asia."

Over the last 14 years, RAK FTZ has rapidly expanded into a cost-effective gateway to fast-growing regional and global markets and today is the investment destination of choice for more than 8,000 companies from over 100 countries, representing more than 50 industry sectors. RAK FTZ provides a comprehensive set of products and services for its clients to quickly and easily expand their businesses to the UAE and increase their exports to the fast-growing regional markets. These include an extensive portfolio of real estate facilities for lease, complete licensing and legal documentation, UAE residence visa, as well as facilitation of client banking needs and other value-added services. In addition to paying no taxes, RAK FTZ clients also benefit from operational costs that are as much as 50 percent lower than in other emirates, allowing them to maximize the profits for repatriation to their home countries. 

In the Los Angeles luncheon, the RAK FTZ delegation was joined by honorable guests His Excellency Abdulla Alsaboosi, United Arab Emirates Consul General, Alexis Serfaty, Vice President, US-U.A.E Business Council, Carlos J. Valderrama, Senior Vice President, Global Initiatives, Los Angeles Area Chamber of Commerce,  The Honorable Kelli Bernard, Deputy Mayor of Los Angeles for Economic Development and Edwin Woodsome, Managing Partner at Dechert.

"In addition to our existing 200 US clients, we are seeing increasing levels of interest from US companies, undoubtedly boosted by the RAK FTZ reputation for providing the most cost-effective business establishment solutions in the region, plus the advantage of operating in a 100 per cent tax-free environment," said Peter Fort. "Given the ease of access with frequent direct flights between Houston and the UAE, we believe that many members of the Houston business community will be attracted to Ras Al Khaimah to establish their Middle East marketing and sales offices, regional headquarters and logistics hubs at RAK FTZ to take advantage of the growing demand for US products and services in the Middle East, Africa and South Asia."

The RAK FTZ delegation will also be hosted by the US-UAE Business Council at a luncheon panel in Houston, Texas, on 11 February, as part of the high-level visit to the US.

The delegation will be joined by honorable guests The Honorable Ed Gonzalez, Mayor Pro Tem of Houston Texas, Alexis Serfaty, Vice President of the US-UAE Business Council, Aida Araissi of the Bilateral US-Arab Chamber of Commerce and John R. Brantley, Partner at Bracewell & Giulliani LLP in Houston, Texas.

About Ras Al Khaimah Free Trade Zone:
Ras Al Khaimah Free Trade Zone (RAK FTZ) provides award-winning services and world-class facilities, enabling clients to quickly and efficiently set up and grow profitable companies in the United Arab Emirates. Home to more than 8,000 active companies from over 100 countries and over 50 industry sectors, RAK FTZ offers completely tax-free status to its clients, allows for 100 per cent foreign ownership and unrestricted repatriation of profits, in addition to a host of other business-friendly incentives.

Less than an hour's drive from Dubai, RAK FTZ offers significant geographical advantages for clients to easily access markets in the Middle East, Africa and South Asia. It caters to the unique requirements of small, medium and large businesses with three business parks including business center facilities, offices, warehouses and land for development, as well as the affiliated RAK Academic Free Zone for educational institutions. Since its inception 15 years ago, RAK FTZ has diversified from its traditional focus on industrial manufacturing to also support trading, sales and marketing activities, a wide range of service sectors, as well as logistics and distribution platforms. In addition, the RAK Academic Free Zone is home to a wide variety of educational institutions and service providers. 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