India Looks To Boost Ties With Jebel Ali Free Zone
by Mary Swire, Lowtax.net, Hong Kong
25 March, 2014
India has sent a delegation to the United Arab Emirates to seek stronger trade ties with authorities from the Jebel Ali Free Zone (Jafza) in Dubai.
TP Seetharam, the newly appointed Indian ambassador to the UAE, delivered a speech during the delegation's visit to the free zone in which he noted that most of India's exports to the Middle East pass through Dubai, particularly Jafza. "I look forward to a greater collaboration and strategic partnerships in all other fields including bilateral trade and investments for the best interest of both the countries," he said.
Between 2002 and 2013, the number of Indian companies with a presence in Jafza increased from 236 to 770. Non-oil trade between India and Jafza last year reached an estimated USD5bn.
Jafza offers a number of business incentives, including 100 percent foreign ownership, zero percent corporate tax for 50 years, zero percent import or re-export duties, zero percent personal income tax, and unrestricted repatriation of capital and profits. The zone is located nearby Jebel Ali Port, Dubai – the largest port in the Middle East region.
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