Qingdao Port Chief: Jafza is vital hub for Asia trade

DUBAI: Cheng Xinnong, the President of Qingdao Port in China, said on Sunday that the Jebel Ali Free Zone Authority, Jafza, has become a very important business and commercial hub for Asian companies, specifically Chinese firms, adding that the establishment of the Qingdao Free Zone will add value to the already deep relations and boost trade exchange between China and Jafza.

These comments were made during a meeting that was held with Ibrahim Mohamed Aljanahi, the Deputy CEO of Jafza and Chief Commercial Officer, Economic Zones World, Cheng, and a high-level Qingdao Port Group delegation.

Aljanahi welcomed the delegation, and stressed the importance of Jafza’s trade ties with China. He also explained the incentives available to companies setting up business in the Free Zone. “China is one of Jafza’s most important trade partners. Trade between Jafza and China has jumped from AED4 billion in 2004 to AED46 billion in 2013,” he said.

“We expect this figure to grow in the coming years in light of the investments being made by Chinese companies here,” he added.

Jafza has helped raise the business profile of Dubai and the UAE, and plays a key role in attracting foreign investment to the tune of 40 percent of all FDI inflows to Dubai and 20 percent of FDI coming into the UAE.