The International Conference on Free Zones discusses digitalization and sustainability issues in Hainan, China

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Hainan – (China) on October 11, 2017 – The annual international conference of the World Free Zones Organization, held in the Chinese city of Hainan, discussed during its second day the role of digitalization and sustainability in shaping the future of free zones and enhancing their role as strategic engines for global trade.

The second day witnessed the launch of the International Free Zones Research Institute in cooperation between the World Free Zones Organization and the China Reform and Development Institute, to be an independent international research center concerned with developing studies and policies that support the development of free zones globally.

The BRICS Special Economic Zones meeting was held, which focused on opportunities for cooperation and innovation between countries of the South, in addition to specialized sessions that addressed the sustainable digitization of trade corridors, the impact of global tax shifts, and the role of the circular economy and renewable energy in achieving net zero emissions.

The event witnessed the signing of a memorandum of understanding between 6 free zones from different countries, including DIES from the UAE, and 5 economic zones in the Chinese province of Hainan, with the aim of enhancing cooperation in the field of cross-border data flow and developing sustainable digital economy solutions.

His Excellency Dr. Mohammed Al Zarouni, President of the World Free Zones Organization, stressed that these steps consolidate the status of free zones as engines of sustainable development and centers for global innovation.