(MENAFN- Khaleej Times) In a step aimed at boosting the trade relations between Ukraine and Ras Al Khaimah, a high-level legal delegation from the Ukrainian Bar Association (UBA), a non-governmental organisation from Ukraine, visited the Ras Al Khaimah Free Trade Zone Authority (RAK FTZ) and signed a Memorandum of Understanding (MoU).
The 40-member delegation, which comprised partners and managing partners from some of the largest Ukrainian law firms, discussed a wide array of areas of mutual cooperation aimed at establishing and strengthening a business relationship between Ras Al Khaimah and Ukraine, as well as to open up a new market for the UAE investments, among others.
The visit was supported by the Embassy of Ukraine in the UAE. The MoU was signed by Shaikh Mohammed bin Humaid Al Qasimi, managing director of RAK FTZ, and Valentyn Zagariya, president of UBA and is the first MoU signed by the UBA with any entity in the UAE.
Shaikh Mohammed said: "Ukraine is a very important and strategic market for us and the visit of the high-level delegation from the Ukrainian Bar Association to RAK FTZ is a strategic step forward in our business collaboration. We discussed a wide range of sectors for closer business relations and see a lot of fruitful cooperation stemming out of this visit."
He added: "This mission was a great opportunity to strengthen our positioning as a business hub geared at helping businesses from Ukraine to set up base in RAK FTZ, and grow their presence in the Middle East, given our strategic location. There was a valuable exchange of information and practical experience during the roundtable and how Ukrainian businesses can benefit from setting up businesses in the UAE, and particularly in Ras Al Khaimah."
Zagariya said: "We are excited to be here to announce our cooperation with Ras Al Khaimah Free Trade Zone. Since our establishment, it was our endeavour at the Ukrainian Bar Association to go global, open up new avenues for cooperation, launch joint projects, and provide business and networking opportunities for our members."
He added: "This MoU with RAK FTZ has offered us a vision into our future growth, and we are confident that the new business opportunities offered by RAK FTZ will be welcomed by the leading companies and establishments in Ukraine. This includes the legal and management consultancy on business structuring and international expansion for companies on either side."
The two-day visit included a roundtable that focused on various mutual collaboration possibilities and future cooperation between the two countries.
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