Qeshm-Jebel Ali Shipping Line Planned
Posted: 20 April 2005
Following an agreement reached between Qeshm Free Trade Zone and United Arab Emirate’s Jebel Ali Free Zone, the Qeshm-Jebel Ali Shipping Line would be established in the near future, according to iran local news.
The establishment of Qeshm-Jebel Ali shipping line would help the southern Iranian island undertake a portion of transportation activities handled by Dubai and Jebel Ali.
ISNA further indicated that Jebel Ali Free Zone has guaranteed supply of required facilities and vessels.
It is expected that the shipping line would also help improve commercial activities on Qeshm Island.
The Jebel Ali Free Zone was established in 1985 with the specific purpose of facilitating investments.
While Jebel Ali was established to complement and contribute to Dubai’s growth and development, its legal status is quite distinct. Companies operating there are treated as being “offshore“ or outside the UAE for legal purposes.
Qeshm Free Trade Zone (QFTZ) has absorbed foreign direct investments (FDI) worth only $580 million since 2000. Foreign investments in the Persian Gulf island during 1993-2000 had totaled $450 million.
Experts say the UAE has taken full advantage of Iran ’s inability to lead regional marine transit to boost its multibillion-dollar business.
Posted by Editor Offshore Arabia Magazine
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