Listen to this article  |
In a significant move towards expanding economic cooperation between the United Arab Emirates (UAE) and Israel, Ras Al Khaimah Economic Zone (RAKEZ) has signed a Memorandum of Understanding (MoU) with the Manufacturers’ Association of Israel (MAI). This strategic partnership aims to create new opportunities for industrial companies in both countries, boost industrial activities, and strengthen economic ties. The agreement was signed by Yaser Abdulla Al Ahmed, the Chief Government and Corporate Relations Officer of RAKEZ, and Hagai Edri, the Deputy CEO of MAI.
The Importance of Enhancing Cooperation
Ramy Jallad, the CEO of RAKEZ, emphasized the importance of enhancing cooperation between the UAE and Israel through economic exchange. This partnership with the Manufacturers’ Association of Israel is expected to create new gateways for industrial players in both countries to expand their regional footprints. By fostering collaboration and mutual growth, RAKEZ and MAI aim to support their respective economies and members.
Hagai Edri, the Deputy CEO of MAI, expressed his views on the partnership, highlighting its significance in providing meaningful industrial cooperation opportunities for their members in the UAE. He sees RAKEZ as a potential strategic partner that will allow Israeli industries to expand to other markets while maintaining their main industrial activity in Israel. This mutually beneficial approach is expected to benefit both organizations and their members.
Creating Investment and Expansion Opportunities
Under the terms of the MoU, RAKEZ and MAI will collaborate to create investment and expansion opportunities for industrial companies in the UAE and Israel. By leveraging their expertise and networks, they aim to facilitate business growth and development in both countries. This collaboration will not only contribute to economic prosperity but also foster knowledge exchange and innovation.
To achieve these goals, RAKEZ and MAI will welcome business delegations and organize various B2B events, including seminars and workshops. These activities will provide valuable networking opportunities for industrialists, keeping them updated with the latest industry trends and developments. By connecting key stakeholders, RAKEZ and MAI aim to foster a thriving business ecosystem that benefits all parties involved.
Manufacturers’ Association of Israel: A Pillar of Israeli Industry
The Manufacturers’ Association of Israel (MAI) is a century-old umbrella organization representing industrialists in Israel. With a diverse membership base, MAI supports industrial sectors such as high-tech, textiles, fashion, chemical, pharmaceuticals, environment, food, metal, electrical, infrastructure, and consumer products. Currently, MAI supports 1,800 members who collectively contribute to over 90% of the total industrial output in Israel.
MAI serves as a vital platform for Israeli industrialists, facilitating collaboration, knowledge sharing, and collective advocacy. The association plays a crucial role in promoting the growth and competitiveness of Israeli industries, both domestically and internationally. Through this partnership with RAKEZ, MAI aims to further strengthen its members’ position in the global market while maintaining their primary industrial activities in Israel.
FAQs (Frequently Asked Questions)
- What is RAKEZ?
RAKEZ stands for Ras Al Khaimah Economic Zone. It is a specialized economic zone in the UAE that offers a wide range of business setup solutions, facilities, and support services to attract and facilitate investment.
2. Who is the Chief Government and Corporate Relations Officer of RAKEZ?
The Chief Government and Corporate Relations Officer of RAKEZ is YaserAbdulla Al Ahmed.
3. What is the Manufacturers’ Association of Israel (MAI)?
The Manufacturers’ Association of Israel (MAI) is an umbrella organization that represents industrialists in Israel. It supports various industrial sectors and plays a crucial role in promoting the growth and competitiveness of Israeli industries.
4. How many members does MAI support?
Currently, MAI supports 1,800 members who are responsible for over 90% of the total industrial output in Israel.
5. What are the goals of the partnership between RAKEZ and MAI?
The partnership aims to create investment and expansion opportunities for industrial companies in the UAE and Israel, boost industrial activities, and strengthen economic ties between the two countries.
6. What activities will RAKEZ and MAI organize as part of their collaboration?
RAKEZ and MAI will welcome business delegations and organize B2B events such as seminars and workshops. These activities will provide networking opportunities and keep industrialists updated with industry developments.
Conclusion
The partnership between Ras Al Khaimah Economic Zone (RAKEZ) and the Manufacturers’ Association of Israel (MAI) marks a significant step towards expanding economic cooperation between the UAE and Israel. By working together, RAKEZ and MAI aim to create investment and expansion opportunities for industrial companies, boost industrial activities, and strengthen economic ties between the two countries. This collaboration will not only benefit the organizations involved but also contribute to the growth and development of their respective economies. Through welcoming business delegations and hosting B2B events, RAKEZ and MAI are committed to providing valuable networking opportunities and keeping industrialists updated with the latest industry trends. Together, they are paving the way for increased industrial cooperation and mutual growth in the UAE and Israel.
