Industry & Economy
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Foreign Trade
UAE's free trade zone opens office in Mumbai
Our Bureau
Mumbai
,
Sept. 5
THE RAK Free Trade Zone of UAE has announced the opening of its regional office here.
Established in May 2000, it is one of the fastest growing free trade zones in the region.
"In order to give unmatched service to the Indian investors, RAK Free Zone is setting up its liaison office in Mumbai and the necessary sanction from the concerned authority has been obtained," said Mr Binu Pisharady, Regional Manager for India.
According to Mr Binu, Indian companies comprise around 40 per cent of the total companies bringing in investments of around Rs 133 crore. These companies are involved in trading, consulting & services, warehousing and manufacturing.
The RAK FTZ has more than 1,000 companies registered with it; the geographical coverage spreads to 44 countries around the world. The growth in inflow of companies from the Indian subcontinent has been about 25 per cent.
Apart from trading and services, it is into manufacture of electrical and telephone cables, wire drawing, paints, speciality oils & lubricants, building chemicals, plastic products, switchgear and electrical panels, steel fabrication etc.
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