World FZO signs Agreement with free trade zone organizations of India and Uruguay

10

The World Free Zones Organization (World FZO) has signed two new agreements with leading free zone organizations from India and Uruguay as part of its continuing efforts to establish cooperation and support economic zones around the world through its full range of free trade zone services.

The World FZO has commissioned the All-in-One Program to expand its services to a larger cross-section of the free zone community, allowing each of India’s Export Promotion Council for Export Oriented Units & Special Economic Zones (EPCES) and the Uruguayan Chamber of Free Trade Zones (CZFUY) associated entities to become a voting member of the World FZO and have access to the complete range of World FZO services under the agreements.

Going forward with the agreement, EPCES and the CZFUY each signed the Agreement in separate signing ceremonies, that were witnessed by Dr Samir Hamrouni, CEO of World FZO, Mr. Bhuvanesh Seth, EPCES Officiating Chairman and Mr. Diego Licio CZFUY President.

By joining the World FZO, EPCES and the CZFUY members will be able to elevate their free zone members on an international level and attract new investors and partners. Other benefits include training, gaining international experience and promotion to global players for the benefit of national economic growth and development.

Under the agreement, the World FZO will help EPCES and CZFUY members to improve their efficiency, knowledge, capacity building, competitiveness, as well as international visibility to target the right audience and investors, by using the World FZO’s service and network without any annual fee. The World FZO offers the best-in-class standards to establish an ecosystem for free zones in both the global and local markets. It has laid down guidelines to manage free zones, assist stakeholders working in the free zone environment and facilitates involved in trade and customs.

Commenting on the development, Dr Hamrouni said: “These agreements will take us ahead with our objectives to provide a platform for all the stakeholders of free zones around the world to learn, grow and prosper through an exchange of expertise and knowledge, training and adapting best industry practices. This All-In-One Program will offer a 360-degree exposure to the members of both EPCES and CZFUY in order to boost profits of the free zones under them as well as the economies of their respective countries.”

Dr Hamrouni further added: “The World FZO is a global voice representing the interests of free zones worldwide. This agreement will undoubtedly help members in better understanding how various free zones function around the world, the best practices they implement, and how members may optimize their profits while networking and developing relationships with international organizations.”