The UAE established Jebel Ali Free Zone in 1985 as its as well the regions first free zone and over the years, this would become the template which competitor free zones would follow in the lucrative logistics sector.
An article of TradeArabia was published on 18 april 2016. It highlights the phenomenal levels of commercial exchanges between India and the UAE with total predominance of the subcontinent businesses not only in this particular free zone but in all its free zones. Excerpts of the said article are reproduced here.
Jebel Ali Free Zone registers 60 new Indian firms
Jebel Ali Free Zone (Jafza), the flagship free zone entity of Dubai, has registered an additional 60 Indian companies in 2015 from key sectors, including electronics, steel, construction and building materials, chemicals and petroleum products and FMCG, a report said.
With over 800 Indian companies from various sectors based in Jafza, the free zone recorded a growth of 10 per cent last year in the number of companies registered. This is due to the strong bilateral ties between India and the UAE and the reputation that Jafza has built among India’s business community, added the WAM report. . . .
. . . . Ibrahim Mohamed Aljanahi, deputy CEO and chief commercial officer, said: “Historically, India has been a strategic partner of the UAE and Dubai. Jafza began operations 31 years ago and since then, Indian investors have trusted us and have played a key role in the growth of Jafza by establishing their businesses and production lines here.”
“Over the years, we have continued to build a stronger business relationship with India through mutual annual visits. The exchange of trade between the two sides has grown continuously, with new companies registering here every year. Through Jafza, they too have expanded their businesses and reached out to newer markets in the region,” he said.
Aljanahi added that Jafza aimed to build long-term economic partnerships with the Indian business community by providing the appropriate trade environment and by attracting investments to the country, in line with the goal of the UAE and Dubai to diversify sources of income and to prepare for the post-oil era.
He also pointed out the significance of the visit of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India in February that has further strengthened business relations with India, and raised the level of cooperation between the two friendly nations, added the report.