KUALA LUMPUR, March 21 (Bernama) -- The World Free Zone Organization (World FZO) will set up its Asia-Pacific headquarters at the Jiangdong New Area in Haikou, China.
World FZO director-general (China Office), Li Guanglian said the World FZO would support the development of China's free trade zones (FTZs), especially Hainan FTZ and Hainan free trade port by providing related services for governments, enterprises and investors.
It will also support the development of China’s related industries, strengthen liberalisation and facilitation of bilateral investment, promote economic globalisation, and develop Haikou into the gateway for China's communication and cooperation with others.
The Asia-Pacific headquarters will be the administration centre for the region, and will also deal with some businesses of the Dubai headquarters. It will develop the hub for international free trade, and attract the world's major FTZs and related enterprises to set up regional offices.
A research institute on world free zones will be established to conduct research and provide training on free zones to establish standards for China's FTZs, as well as collect and compile data on China's FTZs.
Registered in Geneva and headquartered in Dubai, World FZO has a profound global impact launched by 14 FTZs, including Shanghai Free Trade Zone and Dubai Airport Free Zone, according to a statement from The Municipal Government of Haikou City.
The organisation has members from 100-odd countries and regions, and has established long-term and stable cooperation with many important international organisations, including the World Trade Organisation.
-- BERNAMA
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