Jaipur, Under the recently signed 'Free Trade Agreement' between India and the United Arab Emirates (UAE), it has been agreed to reduce or eliminate import duty on most of the goods being exported from India to the UAE. On the lines, a discussion was organized on 'Business Opportunities in Sharjah Airport International Free (SAIF) Zone' in Jaipur to promote exports from Rajasthan to UAE. The aim was to provide information about the Free Trade Agreement to the industries and to discuss its nuances.
Organized under the aegis of the Associated Chamber of Commerce and Industries of India (ASSOCHAM), the session was supported by the Federation of Rajasthan Trade and Industry (FORTI), Federation of Rajasthan Exporters (FORE), Rajasthan Chamber of Commerce and Industry (RCCI) and ASSOCHAM Gem Green Building.
The event was attended by more than 150 businessmen from the state, who expressed their curiosity about starting a business in the UAE. On this occasion, officials of the SAIF Zone gave information about setting up business in the SAIF Zone through a presentation.
H.E. Saud Salim Al Mazrouei, Director of SAIF Zone, said in the session that “Sharjah Airport International Free (SAIF) Zone" is a hub of trade from where not only Dubai, but all over the world can be reached for business. By paying only Rs 2 lakh i.e. 10,000 dirham, any small businessman can open his office or factory in SAIF zone. This payment includes one year rent, electricity, water, all permissions and visa of three people. The interested person will simply have to go to the office of SAIF Zone and submit their documents and their office key will be given in their hand. No tax will be levied on doing business from here.
Raed Abdullah Bukhatir, Director of Marketing and Business Relations, SAIF Zone informed that Sharjah has three ports. One of the largest airports in the world is located in Sharjah. Large quantities of goods are being dispatched through Sharjah airport. Customs clearing of goods takes only half-an-hour. There is no customs duty and free import is allowed. You can import the goods if you want and keep it at your shop in Sharjah and then you can export if you want. There is no income tax. 100% foreign sponsorship is allowed.
Dr. Ajay Data, Chairman, Rajasthan State Development Council, ASSOCHAM in his welcome address said that SAIF Zone is Corporate Tax and Income Tax Free Zone. More than 7000 industries are already working in this zone. Through this session, traders of Rajasthan will get an opportunity to go to the UAE and connect with the whole world and do business.
Rajeev Arora, Chairman, Rajasthan Small Industries Development Corporation and President of Federation of Rajasthan Exporters said that it is a matter of great pleasure that ASSOCHAM has organized an interactive session with SAIF Zone in Jaipur. He further said that if a company which does manufacturing in India and if it wants global presence and wants to distribute its products all over the world, then via UAE can go to Europe.
On this occasion, the Honorary Secretary General, Rajasthan Chamber of Commerce and Industry, Dr. K.L. Jain and Federation of Rajasthan Trade and Industry (FORTI) Women's Wing President Ms. Neha Gupta also addressed. The Vice Chairman of the ASSOCHAM Rajasthan State Development Council, A.R. Tushar Sogani proposed a vote of thanks. During the session, SAIF Zone Corporate video presentation as well as experiences of existing investors of SAIF Zone were also shared.
About Sharjah Airport International Free Zone: The Sharjah Airport International Free Zone was established in 1995, and is the oldest free trade zone in the UAE, with the best facilities providing land for offices, warehouses and industries. Being very close to Sharjah International Airport, this zone is a very suitable destination from the point of view of trading, manufacturing, and logistics. There are also many subsidies and incentive schemes for the traders setting up their business in this zone. This trade zone is a focal point for those looking to set up their industry in Dubai. From office space to the entire manufacturing unit, Sharjah Airport International Free Zone has the resources to meet every need. At present, there are 7000 companies from all over the world in Sharjah Airport International Free Zone, out of which 2000 are Indian companies.
