DAFZA signs an MOU with Federal Israeli Chamber of Commerce


September 27, 2020 | By RetailME Bureau

The Dubai Airport Free Zone Authority (DAFZA) signs an MoU with Federal Israeli Chamber of Commerce (FICC) to define frameworks for bilateral cooperation. The MoU will encourage and support Israeli companies to establish their businesses and take advantage of commercial and investment opportunities and incentives in the UAE.

Through the memorandum of understanding, DAFZA will promote Dubai as a global trade centre. A stimulating business environment for Israeli companies, DAFZA will introduce them to the nature of business and investment opportunities that they can benefit from through several joint initiatives that will be organised in cooperation with the FICC, which serves as roof organisation to over 5,000 businesses and organisations operating in more than 120 divisions. DAFZA is an ideal location for business growth at the regional level and in Dubai as a platform to enable Israeli companies to expand and reach the Asian and Middle Eastern markets through the air logistics port of Dubai International Airport.

DAFZA will provide the companies of the Federation of Israeli Chambers of Commerce with incentive offers to establish businesses and integrated services in this context, by supporting start-ups, while online businesses will benefit from the free zone specialised in e-commerce called Dubai Commercity, which will enable them to gain access to the different e-commerce system in the emirate with competitive incentives agreed upon by both sides.

Also, the two parties will cooperate in the field of exchanging information and experiences to achieve common goals, in a way that contributes to introducing the companies of the two countries to the vital business environment for establishing and developing their business, in addition to promoting the services and facilities provided by DAFZA and FICC.

As DAFZA signs an MOU with Federal Israeli Chamber of Commerce, Mohammed Al Zarooni, director general of DAFZA, affirmed that this agreement reinforces the commitment of DAFZA as a vital tributary to the growth of the economy of the UAE in general and the Emirate of Dubai in particular, given its position as a global destination for business growth and prosperity and a vital engine for the economy of Dubai. The MoU is in line with the strategic objectives of Dubai aimed at enhancing the contribution of non-oil sectors to the emirate’s GDP.

“DAFZA enjoys a strategic location that makes it a gateway to Asian markets, as it will redirect trade movement smoothly, faster and more efficiently to those markets through the emirate of Dubai, which provides important commercial opportunities for Israeli companies,” he added.

“The signing of the MoU with DAFZA is an event that will go down in history as an example of what can be achieved in our world if two countries are bent on creating more prosperity for their people. It will be a mutually advantageous for Dubai and the Israeli business community, as more business will utilise the developed facilities and services in DAFZA, and create a bridgehead for Israeli business for enhancing its foreign trade in products and services. The message of peace will take a form of working together for the people of both countries,” stated Uriel Lynn, president of the Israeli Federation Israeli Chambers of Commerce.

This cooperation between both parties will enhance the process of supporting the business of many major targeted industries, such as logistics, technology and electronics, in addition to the precious stones and metals industry, agricultural industry, pharmaceutical and medical equipment industries, as well as research and development.

 

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