A Korean delegation of 10 senior government officials, headed by H.E. Hak-Kyu Sohn, Governor of the industrial Gyonggi province in Central Korea, visited Jebel Ali Free Zone Authority (Jafza) recently as part of efforts to promote bilateral relations between Korea and the UAE. The delegation held discussions with Ibrahim M. Al Janahi, Executive Vice President of Jafza, and Dr. Mohammad Al Banna, Senior Sales Manager, Jafza.
The visit, organized by the Korea Trade Center in Dubai, comes as a major step in promoting bilateral relations and enhancing mutual co-operation between the two countries. 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 Dubai.
During the meeting, Al Janahi highlighted the benefits offered to companies setting up operations in Jafza, emphasizing on Jafza’s historical development, in addition to the various geographical and technological advantages enjoyed by companies functioning under the free-zone umbrella. He also discussed Jafza’s proposed development plans designed to accommodate the ever-increasing international demand. The visit was concluded with a field trip to Jafza facilities, during which the delegation was briefed on Jafza’s advancements and the services offered by the free zone.
Al Janahi announced that he will be visiting Seoul, the capital of Korea, in July 2006, in acceptance of an invitation extended to Jafza by the Korea Institute of International Economic Policy (KIEP), to make a presentation in the international conference entitled “From Free Economic Zones to a Northeast Asian Hub: Challenges and Future Directions”, where Al Janahi will share Jafza's success story with representatives of prominent free zones from around the globe.
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 5,000 companies from over 120 countries, including about 150 Fortune 500 companies, have set up facilities at Jafza.
