Austrian delegation visits RAK FTZ

Sheikh Faisal welcomed the high level delegation on their visit to RAK FTZ and expressed his sincere hope that this visit would further boost bilateral relations between Ras Al Khaimah and Austria and pave the way for increased economic cooperation.

He said that the RAK FTZ has firmly established itself as a preferred investment hub in the region due to the superior services provided to the investors.

Sheikh Faisal said the business opportunities in Ras Al Khaimah are diverse and tremendous and the economic cooperation between RAK FTZ and Austria will certainly benefit the two sides. He noted that the number of European companies registered with the RAK FTZ comprises 24 per cent of the total number of companies registered with the zone so far, and this figure stands as an obvious indication for the improving economic cooperation between Ras Al Khaimah and Europe.

Maryam Al Murshidi Al Shehhi, the Assistant Director of RAK FTZ briefed the Austrian delegation on the zone's strategic plan to attract commercial, industrial and services investments and to stimulate foreign trade.

She stressed that part of the zone's plan for the coming year (2007) is to pay several visits to Austria to enhance the economic cooperation and market RAK FTZ services to the Austrian investors to start new bases in order to penetrate various markets around the globe.

She said the RAK FTZ is committed to act as a facilitator to set up efficient and cost- effective businesses and offer state-of-the-art facilities that would be attractive to Austrian investors.

Dr. Josef Puhringer said that there was huge potential to further develop and consolidate commercial ties between Ras Al Khaimah and Austria. 'The rapid economic growth being witnessed in Ras Al Khaimah has opened up new avenues for economic partnerships between the two sides,' he added.

He was impressed with the RAK FTZ' accomplishments achieved in the last few years that played a major role in developing the emirate's economy. He stressed that the Austrian authorities will provide RAK Free Trade Zone with all the necessary assistance and help during their campaigns in Austria.