Seeks to further boost bilateral trade between Dubai and Kingdom of Saudi Arabia
Dubai, United Arab Emirates, March 17, 2015: Dubai, United Arab Emirates, March 17, 2015: Dr. Nayef Al Rashid, Deputy Consul General of Saudi Arabia in Dubai visited Jafza today to further strengthen non-oil trade between Kingdom of Saudi Arabia and Jebel Ali Free Zone (Jafza), Dubai’s flagship Free Zone and trade and logistics hub of the region.
He was received by Ibrahim Mohamed Aljanahi, Deputy CEO Jafza and his team at the Free Zone.
In his brief welcome note Aljanahi stressed on the strong trade, commercial and cultural bond Dubai and Kingdom of Saudi Arabia enjoy. He emphasized on the need to further enhance bilateral trade between the Kingdom and Jafza, which as Dubai’s key trade facilitator and the logistics hub, serves a region that stretches from West Asia to Indian Subcontinent, Africa and the CIS.
Aljanahi said:
“The bilateral trade between Jafza and Saudi Arabia has grown over 7-fold in the last ten years rising from USD 1.1 billion in 2004 to 8.2 billion in 2014. The trade between the two sides saw a 36% increase last year. The remarkable growth in trade can be attributed to growing demand in the region that Jafza a hub serves. These markets continue to grow at a rapid pace opening opportunities on a regular basis. Expo 2020 in Dubai has opened new opportunities that need to be capitalized on.”
Aljanahi briefly talked about Jafza’s key offerings that have successfully attracted world’s top enterprises into the Free Zone. “These companies together generated trade worth over USD 90 billion in 2013. The Free Zone today sustains more than 200, 000 jobs in the country,” he added.
Two officials discussed ways to further strengthen trade flow between the two sides.
Jafza is currently home to 115 leading Saudi companies in diverse sectors spanning from steel, construction material, machinery and equipment, automotive parts, information technology to logistics. The number of Saudi companies in the Free Zone has seen 280 per cent growth in the last 10 years.
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