DUBAI, UAE, March 8, 2015 /PRNewswire/ --
Dubai-France bilateral trade records 100% jump in the last four years
France is one of the UAE's top strategic partners. Both countries enjoy strong relations, particularly in the field of trade, culture and defence.
UAE -France bilateral trade is estimated to have crossed USD 8 billion in 2014. Dubai, being the commercial centre of the country, has contributed majorly in enhancing the trade flow between the two sides.
The non-oil trade between France and Dubai has doubled in the last four years growing from USD 2.4 billion in 2011 to estimated USD 6 billion in 2014.
Jebel Ali Free Zone (Jafza), the flagship Free Zone of Dubai and trade and logistics hub for the wider Middle East region, has seen Jafza - France trade cross USD 2 billion in 2014. The bilateral trade in Jafza represents re-export of French products to various markets in the region that the Free Zone as the hub serves.
UAE and France, both the countries want to raise trade exchange by at least 50% in the next three years.
To achieve this, Jafza is conducting a roadshow from March 09 - 13 in France, in which the Free Zone is highlighting its world-class offerings and its status as the trade and logistics hub for the entire region that spans from West Asia, the CIS to Africa. Jafza seeks to attract more French companies to the Free Zone in order for them to capitalize on the emerging prospects in this rapidly expanding region.
Ibrahim Mohamed Aljanahi, Deputy CEO Commercial, commenting on Jafza's upcoming roadshow said:
"Massive investment by countries in the region to develop economic and social infrastructure, suitable for non-oil based economic activities, will continue to open huge prospects for businesses engaged in diverse sectors right from FMCG, healthcare, infrastructure development to machinery and manufacturing. Expo 2020 in Dubai will open more lucrative avenues for growth. This is an opportunity for French multinationals and SMEs. The roadshow aims at highlighting these facts and attracting more French companies into the Free Zone from where they can serve all key markets in the UAE and the region efficiently and effectively."
Jafza is at present home to 134 leading French companies including names such as Total, Schneider, Schlumberger, Christian Dior, CMA-CGM, Saint-Gobain, Hermes, Louis Vuitton, Sanofi-Aventis, Renault and Chevron among others.
Jafza started with only 19 companies in 1985. Today Jafza is recognized as a Free Zone with the biggest number of large multinationals in the world. The Jafza companies, big multinationals and SMEs together, generated trade worth over USD 90 billion in 2013. Most of these companies have set up their regional headquarters in the Free Zone, from where they serve the entire region efficiently.
Jafza has been one of the key drivers of Dubai and the UAE's incredible economic development and the non-oil trade growth. The Free Zone accounts for half of Dubai's exports and over a quarter of the Emirate's total trade. Jafza contributes over 20% to Dubai's total GDP on year-to-year basis.
Jafza's incredible growth can be attributed to its competitive advantages such as world-class infrastructure, one-stop-shop services, unparalleled connectivity that enables companies to reach all key markets in record time.
Contact: Bassam Rjoob, +971(0)50-991-5444