The decision was reached yesterday during an Investment Environment Promotion meeting held in Ras Al Khaimah, which also witnessed the signing of an agreement to promote industrial trade between the RAK and the Gaoyao City in Guangdong Provice, China.
At the same time, one of the world’s leading ceramics producers, RAK Ceramics based in the United Arab Emirates also announced plans of further expand their plant based at Gaoyao City. The RAK Ceramics conglomerate in China was incorporated in mid 2002.
Speaking to journalists after the meeting held at the Al Hamra Fort and Beach resort in Ras Al Khaimah, Wei Jun Zhong, a member of the Committee of C.C.P Gao Yao City of China, said that RAK Ceramic will be expanding the existing China factory to further enhance its production capacity.
Jun Zhong said "We are excited to embark on this project with our partners RAK Ceramic. It demonstrates our commitment to building long-term relationships and our determination to invest in growth areas".
The high level delegation from Zhaoqing, China led by Qin Weidong, Secretary of Zhaoqing Committee of CCP, Wu Xianping, Mayor of Deqing City, Wu Linqian, Secretary of Gaoyao Committee of CCP, Tang Haizhou, Director of Zhaoqing Foreigh Trade and Economic Co-operation Bureau among others were received by the Chief Executive Officer and Chairman of Board Directors of Rak Investment Authority, Dr. Khater Massaad.
Dr. Massaad noted. "China is a key market for Ras Al Khaimah and its investors and the agreement signed today underlines our commitment to investment in China. It further strengthens the already thriving trade links between Ras Al Khaimah and China and we look forward to enhancing our long term relationship".
Dr. Massaad, who has successfully steered several industrial development projects in RAK said that the investment in the emirate is timely, given the robust economic growth rates in the region and the anticipated future capacity requirements.
In his keynote address to the visiting delegation, Dr. Massaad said that RAK is politically stable and has a forward-looking, responsive Government under the leadership of Sheikh Saud Bin Saqr Al Qassimi.
The CEO noted that the investment climate in Ras Al Khaimah is conducive due to its business friendly regulations and highly favorable tax-free framework that has played a key role in attracting business entrepreneurs from all over the world, in practically every sphere of economic activity.
Also delivering a speech during the same function, the Secretary of Zhaoqing Committee of CCP, Qin Weidong pointed out that the UAE is considered one of the major regional trade partners with China.
Weidong disclosed that both China and Ras Al Khaimah were working on a common ground with a progressive, pro-business attitude and a highly developed commitment to the private sector.
Sheikh Ahmed bin Humaid Al Qasimi, a Member of the board of Directors of RAK Ceramics was also present during the one day conference.
RAK Ceramics based in Ras Al Khaimah, U.A.E. is one of the largest ceramic tiles and sanitary ware companies in the world. The company has manufacturing plants in the U.A.E., China, Bangladesh and Slovakia, and sales and distribution offices in France, Germany, Switzerland, and Australia. RAK (UAE's) products are exported to more than 125 countries across 5 continents.
© 2007 Al Bawaba (www.albawaba.com)
