Al Zarooni highlights the future of economic zones | Bot To News

Mohammed Al Zarooni, President of the World Free Zone Organization (World FZO), led a World FZO delegation on an official visit to the Dominican Republic and the Republic of Cuba to outline trends and factors to accelerate the future growth of free zones. .

In addition to defining bilateral cooperation mechanisms to support the sector and its progress at an economic and commercial level.

dr. Al Zarooni delivered the keynote speech at the Association of Free Trade Zones of the Americas (AZFA) conference held in Punta Cana, Dominican Republic. The conference was attended by Louis Rodolfo Abinader Corona, President of the Dominican Republic; Gustavo González De Vega, President of AZFA; and leaders of free zones across America.

In his speech, Al Zarooni spoke about the support provided by World FZO to member countries in North and South America and affirmed the organization’s commitment to supporting the growth of this sector in this region. At the same time, they affirm that free zones, both locally and globally, play an essential role in supporting economies around the world on multiple levels, which include attracting foreign direct investment to the national economy, strengthening global trade, developing supply chains, and more. direct and indirect benefits. This has been particularly evident in the past few years, when the world has faced various challenges due to the Covid-19 pandemic and fluctuations and changes in the economy in general.

“At the World FZO, we will continue to work to accelerate the contribution of free zones to each country’s economy by sharing knowledge and experience with government and non-government officials and the private sector. This is in addition to openly discussing and promoting economic opportunities between free zones around the world, based on the concept of free zone connectivity, and supporting companies operating in these free zones to grow and expand beyond the borders of the countries in which they operate. In addition to continuing to find ways to leverage the specific programs and initiatives launched by the World Health Organization to support these goals,” said Dr. Al Zarooni.

Dr Al Zarooni said that the Board of Directors of the World FZO has approved the hosting of the 9th Annual World FZO International Conference and Exhibition in Dubai. The prestigious conference will be held on May 2-3, 2023 under the slogan “Global Trade 2.0: Free Zones, a Trust System Supporting Prosperity” and will be attended by more than 600 people.

The annual World FZO International Conference and Exhibition in Dubai will discuss a number of strategic issues, including how to support and maintain trust between the parties concerned, mechanisms to mitigate the impact of economic challenges and ways to maintain the vitality of free zones through strategies that ensure their prosperity. This is in addition to identifying ways to keep up with changes in business management, data and digitization. The board also announced that it will begin accepting applications to host the 10th edition of the annual event.

The Board of Directors has approved the creation of six committees made up of representatives from the world’s free zones and international organizations to support its vision and strategy. This included an Executive Committee, a Finance Committee, a Knowledge Committee, a Membership Committee, a Policy Committee and a Private Sector Relations Development Committee.

The delegation of the World Organization of Free Zones concluded its trip with a visit to the Special Development Zone of Mariel in the Republic of Cuba, where Manuel Marrero Cruz, Prime Minister of the Republic of Cuba, received Dr. Al Zarooni to discuss the future of free zones. and their importance in supporting the country’s economy.

In addition to identifying the direction and factors that will accelerate their future growth and mechanisms to strengthen bilateral cooperation between the two sides to support the sector and its growth.

The Cuban Prime Minister praised the role of the World Economic Forum in supporting economic zones and strengthening their regional and global integration with governments and relevant organizations, while affirming Cuba’s full support for the Organization’s strategic objectives and elements of empowerment.

The visit included a tour of the facilities and services of the SEZ, as well as its strategic and development plans. dr. Al Zarooni praised Cuba’s free zone model. He emphasized its importance in supporting the country’s economy to accelerate the recovery from the consequences of the pandemic and to keep pace with global commercial and investment activities.

The tour also included a series of bilateral meetings with senior leaders of the World Free Zone Organization, including Rodrigo Malmierco Diaz, Minister of Foreign Trade and Foreign Investment of Cuba; and Ana Teresa Igarza Martinez, Director General of the Mariel Special Development Zone, and several officials from the Republic of Cuba.

This was in line with the strategic objectives of the organization to build communication bridges and strengthen the network of international cooperation to enable and develop global trade and supply chains and achieve their economic potential through free zone models.

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