Grab opportunities at Ras Al Khaimah: Matrade

KUALA LUMPUR: Malaysia External Trade Development Corporation (Matrade) encourages Malaysian businesses to grab the business, trade and investment opportunities that are available in the United Arab Emirates (UAE) particularly in Ras Al Khaimah Free Trade Zone.
Its deputy CEO Datuk Dzulkifli Mahmud (pix) said businesses can make investment in the manufacturing, logistics, services, oil and gas, education and healthcare sectors.
"Malaysian businesses that are looking for option to venture overseas can seize the opportunities available at the Ras Al Khaimah Free Trade Zone. They can also look into establishing warehouse there to export Malaysian products in this market and connecting markets within the area," Dzulkifli told reporters at the Seminar on Ras Al Khaimah Free Trade Zone, UAE: Your Gateway to UAE and The Middle East Markets" here yesterday.
He said Ras Al Khaimah Free Trade Zone became the investment choice for more than 7,500 companies from over 100 countries, representing more than 50 industry sectors.
Currently, he said 15 Malaysian companies are registered at the free trade zone. Among the major ones are Eversendai Corp Bhd, Shin Yang Shipping Malaysia and Power Root Marketing Sdn Bhd.
He said bilateral trade between Malaysia and UAE in 2013 was valued at US$8.81 billion (RM27.8 billion) compared to US$8.03 billion in 2012. Total exports increased slightly to US$4.02 billion in 2013 from US$4.01 billion in 2012.
He said major exports to UAE include jewellery, electrical and electronic products, machinery, appliances and parts and palm oil.
Ras Al Khaimah Free Trade Zone CEO Peter Fort said Malaysian companies are already taking advantage of the business opportunities in the UAE. He said more than 25% of Malaysian investors in the UAE are not only manufacturing goods but also storing, packing and re-exporting them.
Fort said among the benefits include 100% foreign ownership, world class and ready-made facilities, fast-track licensing and registration, fast-track investors and workers visas, freedom to source labour and materials from around the world and ongoing business support services.