RAK Free Trade Zone woos Lebanese market in road show

During the seminar, RAK FTZ representatives will present the various facilities and services of RAK FTZ, focusing on the $5,000 start-up promotion, which runs until 31st of December, 2009 and offers a low-cost business set-up in the UAE.

The scheduled seminar already garnered a lot of interest from the Lebanese business community, with 60 attendees clearly indicating their interest to know more about the free zone's facilities in the UAE and RAK.

"Lebanon and the UAE have a longstanding trade relationship with each other. The proximity between our countries added to a common language and culture equals the perfect formula for a mutually-beneficial economic relationship. We feel that the opportunity is ripe for Lebanese companies to take advantage of this and start investing and expanding their operations in the emirate,"

Oussama El Omari, RAK FTZ's CEO, shared.

Investing in the UAE is made easy with the products and services available at RAK FTZ. Information on these facilities will be presented to the members of the Lebanese business community in attendance at the seminar, and will also be directed to free zone's website, which holds comprehensive information, not only about the free zone but also about the business climate in the UAE and the rest of the Middle East.

Last year, Lebanon ranked the UAE as its topmost export market, with a total value of $346.3m, a 42% increase from 2007 exports to the UAE worth $243.8m. The top products exported to the UAE are jewellery (50%), machinery and equipment (14%) and essential oils (4%).

Lebanon also imported products from the UAE worth a total of $326.4m in 2008, a 49.5% increase from imports valued at $218.3m in 2007. The top products imported from the UAE include jewellery (32%), aluminium and aluminium products (20%), oil products (9%) and sweets (7%).

"We are extremely confident that this road show will be very well received by so many potential Lebanese partners. We have endeavoured to make all the information they need ready and accessible, and our value added services, such as recruitment and marketing consultancy, IT support and B2B matchmaking are designed to ensure that new companies coming to RAK FTZ are well-prepared to start their operations in the UAE," Omari said.

RAK FTZ has recently intensified promotion of its various services and facilities, with the Lebanon road show quickly following on similar successful campaigns in India, Pakistan, Jordan and Syria.