Business & Money | Monday 5 September, 2016 11:31 am |

“SAIF Zone offer many opportunities for entrepreneurs and investors from Sri Lanka and the increasing pace of trade between the UAE and Sri Lanka is a positive sign of rapid growth at all levels,” said Saud Salim Al Mazrouei, Director of Sharjah Airport International Free Zone (SAIF Zone) and Hamriyah Free Zone Authority (HFZA).

Al Mazrouei was addressing a session titled ‘International Business Forum – Expanding business globally in association with SAIF Zone’ in Colombo which was organized by the Board of Investment of Sri Lanka (BOI) and Federation of Chambers of Commerce & Industry of Sri Lanka (FCCISL).

"We are interested in Sri Lanka's trade sector and we also want to open doors to SMEs for entrepreneurs from Sri Lanka", he added.

“A number of Sri Lankan companies have been interested to venture into Sharjah's free zones and I hope that in 2017, they will set up in SAIF Zone”, he said.

Al Mazrouei stressed on the UAE’s close trade relations with Sri Lanka which is a well-known trading hub.

 According to statistics, UAE is the major trading partner of Sri Lanka in the GCC and the two-way trade has reached $1.35 billion in 2015.

In his speech, Al Mazrouei further emphasized on the importance of enhancing economic and commercial cooperation between the Board of Investment of Sri Lanka and SAIF Zone.

 

Upul Jayasuriya, Chairman, Board of Investment said: “Sri Lankans have emerged as important investors within the UAE and Sri Lanka as an important export destination for UAE manufactured goods. BOI and FCCISL is extending our full support to Sharjah Airport International Free Zone.”

Sarath Kahapalarachchi, President, FCCISL said : “Concrete steps need to be taken to build a multi-dimensional collaborative framework that leads to sustained economic growth and job creation for both countries, translating into a truly win-win partnership”.

Thomas Joseph, Business Development Manager, SAIF Zone said: “SAIF Zone has state-of-the-art facilities in addition to tax and duty exemptions, multiple license facilities and easy access to billions of consumers.

SAIF Zone houses over 7,600 establishments from 160 countries.