World Free Zones Organisation Launches In Dubai

A new global non-profit entity, World Free Zones Organisation (World FZO), aimed at boosting knowledge about free zones worldwide, was launched in Dubai on Monday.

Established in Geneva, Switzerland and headquartered in the Dubai Airport Freezone, World FZO will operate as an association for all free zones around the world, estimated to number around 3,500.

The new entity will provide global knowledge, enhance public perception and increase awareness about the advantages of free zones in terms of economic and social development, foreign and direct investment, a statement said.

World FZO is open to all member nations of the UN and includes representatives from free zones across the world. The board of directors, announced on Monday, includes UAE-based Dr. Mohammed Al Zarooni as chairperson, Luis Pellerano from the Dominican Republic as vice chairperson, PC Nambiar from India as secretary and Rose Hynes from Ireland as treasurer.

Al Zarooni said: “The World Free Zones Organisation, which we are excited to be launching, will promote a spirit of collaboration, dialogue and guidance.

“It will provide help to nations that can benefit from the free zone model, whose economies require foreign direct investment in order to build strong, robust and diverse economies for the future.”