Senior Korean business delegation visits JAFZA

The visit is an important step towards forging greater ties of cooperation between the two sides.

Mahn Je Kim, President of the Nakdong Economic Forum and Economic Advisor for Daegu City, who was present at the meeting, praised the rapid development of Dubai as a world class free zone area as well as the facilities on offer here:

"We are quite impressed by the infrastructural capabilities of Jafza and the value addition it provides to its customers and investors. Presently, we are looking at expanding our three free zone areas in Korea and are learning from the success stories of Dubai and Shanghai. Our cities have very good relationships with Dubai and we are looking forward to a long and fruitful partnership between the two sides."

During the meeting, Mr. Al Janahi highlighted the facilities on offer at Jafza as well as the various benefits offered to companies operating out of the free zone. He reiterated Dubai's commitment to accommodate an ever-increasing international demand and emphasized on the various technological and logistical advantages offered by Jafza.

""We are targeting the manufacturing sector and continue to develop the trade, logistics, export and re-export sectors. Korea has been a long-standing partner with Dubai and Jafza is committed to providing the best facilities to its investors."

Mr. Al Janahi, who visited Seoul in July 2006 to attend an international conference on Asian free zones, said, "The FZE's conference was an excellent opportunity to attract many investors and leading companies. In addition, it helped enhance our brand image in the global market."

The Korean delegation also attended presentations made by the Dubai Department of Tourism and Commerce Marketing, Dubai Media City and the Dubai Internet City.

There are at present 30 Korean companies operating in Jafza drawn from an array of sectors such as trading, manufacturing, engineering, electronics and communications, and this number is expected to increase in the near future, in light of the growing commercial and political relations between Korea and the UAE.
Jafza offers a host of advantages to companies establishing operations in the free zone, such as a business environment free from red tape, zero duties on all import and export goods and machineries, modern communication facilities and excellent support services.

More than 5,500 companies from over 120 countries, including about 140 Fortune 500 companies, have set up facilities at Jafza.