Xinhua, Dubai :
The launch of the World Free Zones Organization (World FZO), a global non-profit body that aims to spur collaboration between all economic free zones in the world, has taken place here Monday.
The World FZO was registered in Geneva in January this year and its headquarters is located in the emirate of Dubai, United Arab Emirates (UAE).
A free zone is a regional district or city district in which member firms enjoy special economic advantages such as tax cuts, less bureaucracy or better access to ports or airports.
Earlier in the day, the chairman of the World FZO Dr. Mohammed Al-Zarooni said the new organization has attracted 14 members from North America, South America, Africa and Asia. The Shanghai pilot free trade zone from China is one of the 14 founding members.
“With its headquarters here, Dubai is positioning itself as a major player in the world economy in the run-up to World Expo 2020, ” he said.
Wang Xinling, the vice chairman of the China Shanghai Pilot Free Trade Zone Administration, told Xinhua that the World FZO provided a platform to enhance cooperation between the free zones globally and Shanghai was ready to share its experience with other free zones.
