The Federation of Indian Export Organisation (FIEO) along with Sharjah Airport International Free (SAIF) Zone, organised a session to discuss various opportunities available in import and export to the Gulf countries yesterday.
Addressing industrialists, Than Joseph, business development manager, SAIF Zone said, “The UAE being in the middle of Europe and Asia makes it a perfect gateway to the East and the West. SAIF Zone is the second preferred free zone for Indian businessmen due to its location.”
He said, “Sharjah is considered as part of Dubai due to it highway connectivity with better cost advantages. Its two major advantages are lower recurring costs than other zones in its proximity, including Jabel Ali and Dubai. It helps costing of products competitively.”
“Besides, the location is such that Dubai seaport and airport can be approached easily through Emirates Road, which is an ultra-modern highway,” he added.
During the seminar it was also highlighted that creation of offshore hub will encourage Indian exporters to set up value added facilities like processing, finishing, assembling and packaging.
Joseph said, “In addition to joint venture investment, setting up manufacturing facilities in free-zone area will help in re-export to other GCC market and WANA region apart from the UAE market, especially to Dubai, which is a hub for trading to all West Asia and North Africa region.”
While highlighting benefits of the free trade zone, Jithin Varrier, manager, SAIF zone, explained different types of facilities and exemptions on duties on import and export there. He said, “There are no corporate or income taxes as compared to other free trade zones.”
“If any investor wants to have his/her own employees over here than they can also apply for their visas. They can choose the type of licence for their industry also,” he added.
“We also tell all industrialists that under the SAFE zone there are different types of offices, which can be had according to their choices,” he said.
Earlier, FIEO’s Sona Makhni started the session. In her key note address, she made industrialists aware about the India-UAE trade valued at 60 billion US dollars, which made the UAE, India’s third largest trading partner for the year 2014-15 after China and the USA.
Source: tribuneindia.com