Search DubaiPRNetwork.com

Dubai and UAE

Monday, November 4, 2024/ Editor

Home >> Local News and Government

World Free Zones Organization Announces China as Host for its Annual World Congress in 2025

World Free Zones Organization Announces China as Host for its Annual World Congress in 2025

Home >> Local News and Government

This announcement was made during the World FZO's official visit to Hainan Province, China

World FZO Signs MoU with the China Institute for Reform and Development to Launch the Free Zones Institute
Dr. Al Zarooni: This partnership marks a significant step forward in our shared commitment to promoting global economic growth through the advancement of free zones.

03 November 2024, Dubai, UAE: The World Free Zones Organization (World FZO) has announced that China will host the 11th annual World FZO World Congress in Hainan Province next year.

This announcement was made during the World FZO's participation in the International Forum on China Reform, as part of an official visit led by His Excellency Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organization who delivered a keynote speech.

During the visit, a hosting agreement was signed between Dr. Al Zarooni and Liu Rutao, Deputy Director General of the Hainan Provincial Bureau of International Economic Development for hosting the next edition of the World FZO World Congress in China. Additionally, a memorandum of understanding (MoU) was also signed by Dr. Al Zarooni and Qi Fulin, President of the China Institute for Reform and Development. This MoU aims to establish the Free Zones Institute, fostering research & development, and collaboration between the World FZO and the Institute, with the overarching goal of promoting economic growth, enhancing trade, encouraging innovation, and facilitating knowledge exchange among key stakeholders globally.

His Excellency Dr. Mohammed Al Zarooni said: 'We, alongside the Hainan International Economic Development Office, are pleased to announce that the 11th World FZO World Congress will be held next year in China. This marks a significant milestone in our shared commitment to advancing global economic development through free zones. It also underscores China's dedication to high-level economic growth, exemplified by initiatives like the Hainan Free Trade Port.'

'The Organization aims to establish a comprehensive framework for a more open, interconnected, and prosperous future for all. Looking ahead, we are confident that the importance of free zones will continue to grow. With the signing of a memorandum of understanding with the the China Institute for Reform and Development to launch the Free Zones Institute, free zones will play an essential role in global recovery, especially amid economic uncertainties. These zones will drive exports, create jobs, and offer flexible frameworks for investment, entrepreneurship, and sustainable growth. They will serve as models for economic diversification, helping economies reduce reliance on traditional industries and strengthen emerging, high-value sectors,' Al Zarooni added.

Al Zarooni continued: 'At this critical juncture, we also acknowledge the significance of institutional reforms. The emphasis on free trade, service-led economies, and digital transformation will be central to unlocking the next phase of economic growth. As we have seen with Hainan, setting benchmarks against the world's most successful free trade zones provides invaluable insights into how we can optimize market access, create competitive institutions, and enhance the flow of trade and investment​.'

A Powerful Platform

The World FZO World Congress 2025 is set to convene industry leaders, policymakers, and stakeholders from across the globe, providing a powerful platform to advance the Organization's mission, share key insights, and address challenges shaping the global economy.

Both the World FZO and the Chinese Institute are looking forward to deepening mutual cooperation to support international efforts aimed at promoting economic growth, investment, trade, economic integration, and sustainable development, furthering free zones' contributions to global economic progress.

Under the MoU, areas of collaboration include educating and training developing economies on the advantages and applications of free zones, transferring the Organization's expertise to Chinese free zones, and sharing Chinese insights on reform and development with the Organization's members. This includes best practices, administrative skills, and strategies for expanding international trade.

 

Share


Previous in Local News and Government

Next in Local News and Government


Home >> Local News and Government Section

Latest Press Release

Zoho Strengthens Support for UAE's Tech Sector By Partnering with DART

Dubai Launches Landmark Initiative Further Enabling First-Time Homeownership

SalamAir Releases 2nd Quarter (Q2) On-Time Performance Data

'School of Life' Brings a Summer of Enriching Experiences to Public Libraries

Google launches Veo 3 on Gemini in the Middle East and North Africa

Van Cleef & Arpels Unveils Fleurs D'hawaï: An ODE To Color

“Dubai Customs” celebrates the graduation of the first cohort of participants in the security refres ...

G-SHOCK's Summer Style Statement: Metal-Cased Watches That Define the Season

Hatta Hosts Summer Sports Festival to Attract Over 6,000 Participants as Part of 'Our Summer is Spor ...

flydubai breaks ground on new Aircraft Maintenance Centre at Dubai South

The most common mistakes in the care and use of your car's tyres

UAE Team Emirates-XRG and Tadej Pogačar aim for fourth Tour de France title

Dubai Airports hosts guided travel simulation experience for children with autism spectrum disorder ...

Vacheron constantin presents les cabinotiers Temporis duo grand complication openface

Emirates arrives in Shenzhen

Sorbonne University Abu Dhabi and Électricité de France Forge Sustainability-Focused Partnershi ...

Khalifa Fund for Enterprise Development's Abu Dhabi SME Champions Program facilitates 650+ deals wor ...

Gargash Group Accelerates Sustainability Agenda with New Sustainability Linked Facility from Mashreq

Hamdan Smart University Launches College of Sustainability and Green Economy

Mohammed Bin Rashid Innovation Fund Launches a New Chapter to Strengthen Government Innovation