Hainan: China is set to host the 11th annual World Free Zones Organisation (World FZO) World Congress in Hainan Province next year. The announcement was made during the World FZO’s participation in the International Forum on China Reform, with Dr. Mohammed Al Zarooni, Chairman of the World Free Zones Organisation, delivering a keynote speech.

According to Emirates News Agency, a hosting agreement was signed between Dr. Al Zarooni and Liu Rutao, Deputy Director General of the Hainan Provincial Bureau of International Economic Development. This agreement secures the hosting of the World FZO World Congress in China. Additionally, Dr. Al Zarooni and Qi Fulin, President of the China Institute for Reform and Development, signed a memorandum of understanding (MoU) to establish the Free Zones Institute. This initiative aims to promote economic growth, enhance trade, encourage innovation, and facilitate knowledge exchange among key stakeholders globally.

Dr. Mohammed Al Zarooni expressed enthusiasm about the upcomin
g congress, highlighting its significance in promoting global economic development through free zones. He emphasized China’s commitment to high-level economic growth, as demonstrated by initiatives like the Hainan Free Trade Port. The Organisation aims to create a comprehensive framework for a more open, interconnected, and prosperous future.

The upcoming World FZO World Congress will gather industry leaders, policymakers, and stakeholders from around the world. It will serve as a platform to advance the Organisation’s mission, share insights, and address challenges affecting the global economy. The collaboration between the World FZO and the Chinese Institute seeks to support international efforts in promoting economic growth, investment, trade, and sustainable development.

The MoU outlines areas of collaboration, including educating and training developing economies on the benefits of free zones, sharing expertise with Chinese free zones, and exchanging insights on reform and development. This includes be
st practices, administrative skills, and strategies for expanding international trade.