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Jafza announced that companies in the Machinery and Equipment Manufacturing sector within the free zone have doubled trade volumes in the last five years, recording transactions worth US$31.3 billion in 2010, compared to AED US$16 billion in 2005
Commenting on the importance of the sector, Talal Al Hashimi, Managing Director, EZW-UAE Region said, "The Machinery and Equipment Manufacturing sector has demonstrated steady growth in the last five years. The industry within Jafza is made up of 1,219 companies and represents 20 per cent of the total number of companies operating in Jafza. With significant investments in top of the line infrastructure facilities and services, Jafza has consistently nurtured the growth of the industry over the years."
According to the latest figures available, trade generated by companies in this sector made up half of Jafza's total non-oil trade during 2010.
Mr Al Hashimi said at a Jafza's Strategic Customer Forum focused on customers in the heavy equipment and manufacturing sector.
The Forum was recently held at Jafza premises, as part of a series of events initiated to accelerate communication with key clients in various industries. Top industry representatives that attended the Forum included senior officials from Emerson FZE, Anixter, Cleveland Bridge, Lucy Switchgear, ITR Middle East, Kimoha, FG Wilson, Weir Engineering, Flowserve, Emirates Transformers and L&T among others.
They met with high-level Economic Zones World officials and Jafza partners including Dubai Customs, DP World, Environment Health and Safety (EHS) Department, and Dubai Chamber of Commerce & Industry to discuss operational issues.
Mr. Tariq Bin Ghalaita, VP, Global Commercial and Customer Relations, led and moderated the discussions at the Forum. The attendees discussed rising industry costs, immigration policies, federal rules and regulations and ways to enhance operational efficiency.
The Strategic Customer Forum was the fourth in a series of industry events initiated by Jafza. The first three forums were held for clients in the Logistics, Chemical, Oil & Gas, and Automotive sectors.