Jafza expects 10% increase in Australian companies at free zone in 2014

Jafza expects 10% increase in the number of Australian companies in Jafza this year. The Free Zone is currently home to more than 50 leading Australian multinationals Jafza Roadshow and Business Seminars in Sydney and Melbourne have aroused the interest of a large number of leading Australian companies in the rapidly growing Middle East markets and Jebel Ali Free Zone (Jafza), which is the gateway and trade and logistics hub of the region. Most of the interested companies are either from food, infrastructure development or construction sector. Jafza roadshow and business seminar in Australia was led by Adil Al Zarooni, Senior Vice President and included Khalid Al Marzooqi, Senior Manager - Asia Pacific region, and Kim Winter, the Jafza Representative for New Zealand and Australia. Adil Al Zarooni, commenting on the Jafza roadshow in Australia, said: "The UAE and Australia enjoy strong bilateral trade ties. The UAE is Australia's largest trade partner in the Middle East and North Africa region. The changing economic landscape in this rapidly expanding region has given rise to huge growth opportunities for global multinationals in variety of sectors right from infrastructure development to food, and from healthcare to logistics. Growing interest of Australian companies, particularly from the food and infrastructure sectors, which are Australia's strong holds, is quite natural. Our roadshow and business seminars have unveiled opportunities and evoked their interest." The bilateral trade between UAE and Australia has grown significantly in the last couple of years to reach USD 6 billion. Australia's main exports to the UAE are alumina, which is used to produce aluminum, automobiles and some foodstuff, while Australia's imports from the UAE are mainly petroleum. Huge investments in the infrastructure sector in the Middle East and growing demand for food and other consumer goods in the economically well-off region provides attractive opportunities to Australian companies in these two sectors. Australia is one of the largest capitalist economies in the world with a GDP of USD 1.57 trillion. The Australian economy is dominated by service sector (IT, Engineering etc.) comprising 68% of GDP. The mining sector represents 19% of GDP while agriculture sector, with value-added processes represents 12% of GDP. 60% of Australia's farm produce is exported. Jafza roadshow and seminar in Melbourne attracted leading players from the mining, metal, construction and food sectors. The Free Zone seminar in Melbourne was supported by Victoria State Government. The roadshow and seminar in Sydney on the other hand attracted companies from the infrastructure and construction sectors. The Jafza seminar in Sydney was organized in collaboration with Australia Business Chamber.