Jafza eyes boost in trade relations with Philippines
A senior Philippine Government delegation comprising HE Grace Princesa, Ambassador of the Republic of Philippines in the UAE and HE Frank Cimafranca, the Consul General, visited Jafza recently and met Ibrahim Mohamed Al Janahi, Deputy CEO and Chief Commercial Officer, to discuss opportunities to further strengthen bilateral trade relations between the two sides.
In the discussions, officials on both sides stressed the need to strengthen Philippines-Jafza trade ties, which, Jafza being the region’s trade and logistics hub affectively meant stronger presence of Philippines in the region.
Ibrahim A Janahi briefed visiting dignitaries on Jafza’s key offerings and strengths, particularly the Free Zones’ unique customer driven work ethos, which makes the Free Zone region’s business hub. He also highlighted Jafza’s outstanding logistics strengths that enable Free Zone customers to reach all key markets in West and South Asia, Africa and the CIS at the fastest pace.
“Middle East is one of the fastest growing regions in the world and offers huge business opportunities for a country like Philippines which has fairly strong electronics, garments, transport equipment and agri-product sectors. We assure our full support to Philippine businesses who want to capitalize on the rapidly growing demands in the regional markets. We invite them to come here and base their regional operations in Jafza,” said Al Janahi.
During the discussions Aljanahi also highlighted Jafza’s incubator concept which is designed to support new businesses particularly small and medium enterprises who wish to first explore opportunities before setting-up their full-fledged operations.
Incubator facility is a collaborative initiative between Jafza and the interested country to support SMEs. Under the scheme Jafza allots facility to the Government agency for the Incubation Centre, who in turn allocates spaces in the Centre to interested investors from their respective country at a nominal cost reducing their initial operating expenses at the minimum. Jafza offer is fully in line with Philippine Government’s focus on boosting their export potential.
Jafza-Philippines trade is estimated to have crossed USD 155 million in 2012, up more than 10% from 2011. The bilateral trade between the two sides had peaked in 2010 at USD 173 million. Both sides want to cross this peak in the current fiscal and look forward to work closely to achieve this by bringing more Philippines businesses into the Free Zone.
Jafza is currently home to more than 7000 world’s finest companies who have established their regional headquarters in the Free Zone.