Ras Al Khaimah strengthens economic ties with Utah businesses
Ras Al Khaimah Chamber of Commerce and Industry signed a letter of intent (LoI) with World Trade Center Utah, marking an important step toward strengthening economic cooperation and expanding opportunities for trade, investment, entrepreneurship and business partnerships.
On behalf of His Excellency Dr. Rashid Khalfan Al Nuaimi, director-general of Ras Al Khaimah Chamber, the LoI was signed by Dr. Carel Richter, advisor for international relations, Office of the Ruler of Ras Al Khaimah, and David Carlebach, chief operations officer of World Trade Center Utah.
The LoI establishes a framework for closer engagement between the two organizations and their respective business communities, including promoting bilateral trade and investment opportunities, facilitating business delegations and reciprocal visits, supporting business-to-business meetings and networking activities, and exchanging market insights and practical experience related to investment opportunities, entrepreneurship, innovation and business development.
H.E. Al Nuaimi said: “The United States is an important market for Ras Al Khaimah, and partnerships such as this provide a platform for our business communities to build meaningful connections and identify new opportunities for growth. Through cooperation with World Trade Center Utah, we look forward to strengthening commercial ties, encouraging investment and creating new pathways for companies, investors and entrepreneurs in Ras Al Khaimah and Utah to connect, collaborate and expand internationally.”
“Utah companies are increasingly looking to the UAE as a market for growth, and strong local relationships are essential to turning that interest into business,” said Carlebach. “This cooperation with Ras Al Khaimah Chamber will help us connect Utah businesses with trusted partners, market insights and commercial opportunities in the UAE. By strengthening those connections, we can help companies enter the market with greater confidence, build lasting partnerships, and grow their international business.”
The signing reflects Ras Al Khaimah Chamber’s commitment to expanding its international network and translating institutional partnerships into practical opportunities for the emirate’s business community. The Chamber represents more than 27,000 member companies across Ras Al Khaimah’s commercial, industrial and service sectors and works to support business growth, facilitate trade and investment, promote the emirate in international markets and strengthen cooperation between public- and private-sector stakeholders.
The agreement forms part of a wider Ras Al Khaimah delegation visit to the United States aimed at building lasting relationships and identifying opportunities for trade, investment and institutional cooperation across four states: Florida, Michigan, Nevada and Utah.
About Ras Al Khaimah Chamber of Commerce
Ras Al Khaimah Chamber of Commerce and Industry is the second-oldest chamber of commerce in the United Arab Emirates. Established in 1967, it has served Ras Al Khaimah’s business community for nearly six decades and today represents more than 27,000 member companies across the Emirate’s commercial, industrial and service sectors. Operating as an independent public-benefit institution, the Chamber is the principal representative of the private sector and an important link between businesses and government.
About World Trade Center Utah
World Trade Center Utah (WTC Utah) is a private, nonprofit organization that accelerates growth for Utah companies through its global networks, programs, and services. WTC Utah has team members in Salt Lake City and Seoul, South Korea, through a partnership with the Governor’s Office of Economic Development and the University of Utah. For more information, visit wtcutah.com or follow @WTCUtah on LinkedIn.
About Ras Al Khaimah
Ras Al Khaimah (RAK), the fourth largest Emirate in the UAE, is distinguished by its natural diversity, rich history and forward-thinking vision under His Highness Sheikh Saud bin Saqr Al Qasimi. With a commitment to sustainable development, economic prosperity, social development and innovation, RAK has become an ideal place to live, work and invest.
Strategically located between East and West – with one third of the world’s population within four hours’ flying time – RAK is a gateway to the Middle East and beyond. Its economy is diverse, with no single sector accounting for more than 23% of GDP. RAK offers a business-friendly environment with customizable services, competitive operating costs, 100% foreign ownership, zero personal income tax and one of the world’s lowest corporate tax rates. With world-class infrastructure, RAK is home to over 73,000 companies, including industry leaders such as RAK Ceramics and Julphar. RAKEZ and Innovation City support dynamic growth across industrial, manufacturing and digital sectors, backed by a future-focused economy validated by ‘A’ range credit ratings since 2008 from Fitch and S&P.