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27 February 2024

Emirates Auction signs cooperation agreement with Ajman Free Zone

By Wam

Emirates Auction has signed a cooperation agreement with Ajman Free Zone to sell the seized cargo at the free zone through online auctions.

The two sides agreed that Emirates Auction will organise online auctions to sell cargo that has been seized based on orders from the Judicial Committee that falls under the Dispute Settlement Committee in the Ajman Free Zone, and in accordance to the best global practices.

The agreement was signed by Mohammed Al Midhani, Director of the Department of Inspection and Labor Affairs, and Omar Matar Al Mannai, Executive Director of Emirates Auction, in the presence of Fatima Salem, Acting Director-General of Ajman Free Zone.

Commenting on the agreement, Salem said that the agreement with Emirates Auction is considered another step forward towards smart transformation for Ajman Free Zone, especially since the online auctions saves both time and effort, which contributes to enhancing efficiency and facilitating transactions.

In turn, Al Mannai said that the company is keen to sell the seized cargo of Ajman Free Zone in accordance to the best standards, which will ensure that the free zone will witness attractive returns, as well as provide bidders the opportunity to purchase the cargo at competitive prices. He added that the cooperation with Ajman Free Zone represents a great addition to the list of partners for Emirates Auction, and it reflects the prominent reputation of the company’s services in the country and the region.

Al Mannai stated that Emirates Auction is keen to continue the positive growth of the company by working to achieve the goals of its partners and clients, as well as attract bidders to participate in the online and public auctions organised by the company.

Through this cooperation agreement with Emirates Auction, the Ajman Free Zone looks to implement the best global practices for selling seized cargo based on judicial orders, which will benefit the community and generate revenues for investment in the free zone, in addition to providing potential bidders with the opportunity to purchase the cargo at the best prices.

The signing ceremony was attended by managers and Directors of both side.