RAKEZ partners with Tianjin Free Trade Zone to enhance cross-border collaboration

Photo : Government of Ras Al Khaimah

Ras Al Khaimah Economic Zone (RAKEZ) has officially established a strategic partnership with China’s Tianjin Pilot Free Trade Zone (Tianjin FTZ), solidifying economic relations through a Strategic Cooperation Agreement and a Memorandum of Understanding (MoU) aimed at fostering cross-border opportunities.

The Strategic Cooperation Agreement was signed by Zhu Changcun, the Director General of the Office of China (Tianjin) Pilot Free Trade Zone Administration, and Ramy Jallad, the Group CEO of RAKEZ. In conjunction with this, an MoU was signed by Jallad with Xu Haitao, Director of the Investment Promotion Bureau at the Tianjin Port Free Trade Zone Administrative Committee. This agreement initiates collaborative efforts to facilitate trade, investment opportunities, and industry development between Ras Al Khaimah and China.

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Through this partnership, RAKEZ and Tianjin FTZ aim to accelerate mutual growth by attracting foreign direct investment and enhancing the economic ecosystems of both regions. This collaboration will enable the sharing of expertise and resources, which will promote the development of key sectors and establish both zones as prime destinations for cross-border business expansion.

Ramy Jallad stated, “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 highlighted that RAKEZ currently hosts over 250 Chinese businesses thriving across diverse sectors, including manufacturing, trading, high technology, electric vehicles, and renewable energy. He noted that this partnership would further bolster RAKEZ’s commitment to supporting Chinese investors looking to enter Middle Eastern markets. Recently, there has been a notable increase in interest from Chinese firms, attracted by RAKEZ’s strategic location and robust business solutions. This growing engagement from China reinforces RAKEZ’s status as a premier international business hub, especially in a climate where global markets seek sustainable growth opportunities.

Yin Xiaofeng, Party Secretary of the CPC Committee of Tianjin Port Free Trade Zone, and President of the Administrative Committee of Tianjin Port Free Trade Zone, expressed optimism about the collaboration, stating, “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.” He articulated a desire to strengthen cooperation with RAKEZ in areas such as petrochemicals, renewable energy, shipping and logistics, the marine economy, automotive trade, and industrial investment, emphasizing the need to complement each other's strengths in technology, capital, resources, and markets.

Yin also noted the potential for Tianjin enterprises to leverage RAKEZ’s advantages as a gateway hub to the Middle East, South Asia, and North Africa, taking advantage of favorable transportation conditions and liberal policies for investment, trade, and foreign exchange. This will enable Tianjin businesses to expand into Ras Al Khaimah, penetrate Middle Eastern markets, and pursue overseas development through fruitful collaboration between the two regions.

RAKEZ is committed to deepening its engagement with China, with a focus on long-term collaboration that drives innovation, economic growth, and mutual prosperity. These efforts are geared towards positioning both regions for future success, laying the groundwork for sustainable development and expanding opportunities in emerging sectors.