The Ras Al Khaimah (RAK) Chamber of Commerce and the Argentine Chamber of Commerce and Services (CAC) have signed an agreement in order to strengthen economic cooperation.
The agreement also intends to increase the volume of trade and investment between the Emirate of Ras Al Khaimah and the Republic of Argentina during the next phase, thereby enhancing the two sides’ business communities.
Under the agreement, the parties will develop trade, economic, scientific, and technical relations between private sector representatives in Ras Al Khaimah and Argentina, organize trade missions between them to build bridges of constructive communication between traders and entrepreneurs, and stimulate both sides’ participation in trade fairs and various economic events.
The agreement was signed by Mohamed Mosbeh Al Nuaimi, Chairman of Ras Al Khaimah Chamber of Commerce, and Omar Haffar, President of the Argentine Chamber of Commerce and Services.
Al Nuaimi stressed that the Chamber is fully prepared to provide all possible services to advance joint business cooperation between the business communities in both Ras Al Khaimah and Argentina, in the various investment sectors concerned.
“Under the agreement, we would both begin to work on the exchange of trade delegations, participation in exhibitions and events in Ras Al Khaimah or Argentina. Trade between Ras Al Khaimah and Argentina amounted to approximately $10 million (AED 37 million) in 2022; almost tripled from the previous year, and imports accounted for a significant share of the volume of exchange,” Al Nuaimi further added.
For his part, Omar Haffar affirmed CAC’s keenness to sign the agreement with the Ras Al Khaimah Chamber because of the emirate’s geographical location, flexible economic and investment legislations, and regulations, making it one of the distinctive investment destinations in the region and the world.
