Ras Al Khaimah Economic Zone (RAKEZ) has entered into a partnership with China’s Tianjin Pilot Free Trade Zone (Tianjin FTZ) to enhance economic ties and foster cross-border opportunities between Ras Al Khaimah and China.
The business relations were formalized through the signing of a Strategic Cooperation Agreement with China (Tianjin) Pilot Free Trade Zone and a Memorandum of Understanding (MoU) with Tianjin Port Free Trade Zone.
Zhu Changcun, Director General of the Office of China (Tianjin) Pilot Free Trade Zone Administration, and Ramy Jallad, Group CEO of RAKEZ, signed the Strategic Cooperation Agreement.
In addition to this, Ramy Jallad signed an MoU with Xu Haitao, Director of the Investment Promotion Bureau at the Tianjin Port Free Trade Zone Administrative Committee. The signing marks the beginning of collaborative efforts to foster trade, investment opportunities, and industry development between the two regions.
RAKEZ and Tianjin FTZ aim to boost mutual growth by attracting foreign direct investment and enhancing the economic ecosystems in both regions. The collaboration will facilitate the exchange of expertise and resources, foster the development of key sectors and elevate both zones as prime destinations for cross-border business expansion and collaboration.
Ramy Jallad Group CEO – RAKEZ
“The Strategic Cooperation Agreement and MoU between RAKEZ and Tianjin FTZ mark a transformative step towards strengthening the industrial capabilities of Ras Al Khaimah and enhancing our global partnerships. Our collaborations with various Chinese business groups, and now a free zone, are part of our mission to foster economic growth and sustainability while also driving local and regional development. By uniting our resources and visions, we are setting the stage for a future where both regions thrive through mutual support and shared opportunities in key sectors.”
Jallad also noted that RAKEZ is home to more than 250 Chinese businesses thriving across diverse sectors including manufacturing, trading, hi-tech, electric vehicles, and renewable energy. This partnership strengthens RAKEZ’s commitment to supporting Chinese investors looking to enter the Middle Eastern markets through Ras Al Khaimah.
Yin Xiaofeng, the Party Secretary of CPC Committee of Tianjin Port Free Trade Zone, the President of the Administrative Committee of Tianjin Port Free Trade Zone, and the Deputy President of China (Tianjin) Pilot Free Trade Zone Administration, stated that, “The Tianjin Port Free Trade Zone has significant locational advantages, a strong industrial foundation, and comprehensive production factors, along with a leading edge in institutional innovation.”
Xiaofeng also highlighted the desire to bolster cooperation with the RAKEZ across fields including petrochemicals, renewable energy, shipping and logistics, marine economy, automotive trade, and industrial investment, to complement each other’s strengths in technology, capital, resources, markets, and other aspects, achieving win-win development.
Furthermore, Xiaofeng emphasized making full use of RAKEZ’s advantages as a gateway hub to the Middle East, South Asia, and North Africa, with superior transportation conditions and highly liberal policies for investment, trade, and foreign exchange as well among other policies. This will help Tianjin enterprises expand into Ras Al Khaimah, enter the Middle East, and pursue overseas development, fruitfully collaborating across the two regions.
