Ras Al Khaimah Economic Zone (Rakez) signed two memoranda of understanding to enhance cooperation with China in areas of trade, digital economy, healthcare and education, at the China International Fair for Investment & Trade (Cifit) held from September 8–11, in Xiamen, China, a report said.

The first agreement with Shenzhen Longhua District seeks to enhance trade and investment in sectors like the digital economy and healthcare, while the second agreement signed with construction firm THi, focuses on joint ventures in industrial and educational projects, Emirates News Agency, WAM, said.

Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, addressed the event and oversaw the signing of several agreements.

Ras Al Khaimah’s investment opportunities were showcased at CIFIT under the ‘Invest RAK’ pavilion, which included Ras Al Khaimah Chamber of Commerce and Industry, Marjan, and other key entities.

Ramy Jallad, Group CEO of Rakez, highlighted the organisation’s role in fostering international relations and economic growth, adding that the Belt and Road Initiative (BRI) alignment further positions Ras Al Khaimah as a key connector in global markets.

Rakez also signed a $360 million lease with Shandong Timber and Wood Products Association for the Zhong A Shandong Industrial Park, set to create over 3,500 jobs.