QFZ, FedEx Logistics Sign MoU to Establish Regional Logistics Facility in Qatar

Doha: May 14 - Qatar Free Zones Authority (QFZ) and FedEx Logistics, a subsidiary of FedEx Corporation (NYSE: FDX), signed a Memorandum of Understanding (MoU) to facilitate the establishment of a regional logistics facility in Qatars free zones. The MoU was signed by HE CEO of Qatar Free Zones Authority (QFZ), Sheikh Mohammed bin Hamad bin Faisal Al-Thani, and President and CEO of FedEx Logistics, Patrick Moebel, in a ceremony that took place on the sidelines of their participation at the 4th Qatar Economic Forum. The location of the FedEx Logistics facility in Ras Bufontas Free Zone, adjacent to the award-winning Hamad International Airport and Qatar Airways, will provide enhanced access to air transportation and freight, efficient customs processing time, convenience, and the opportunity to grow business in the region The new facility will help continue to support the expansion of FedEx Logistics with seamless integration into the FedEx global network, serving as a key gateway for international cargo tran sition in the region between Asia and Europe. On the occasion of the signing, Sheikh Mohammed bin Hamad bin Faisal Al-Thani said: "The collaboration between QFZ and FedEx Logistics will help accelerate the flow of goods and strengthen supply chains, benefitting economies on a global scale. "The FedEx Logistics investment in QFZ reflects a shared commitment to growth and innovation within the logistics sector. The collaboration leverages the world-class expertise and global network of FedEx and will undoubtedly contribute to highlighting Qatar as a preferred business destination. "The regional facility in QFZ will enable us to better serve our customers not just in the region between Asia and Europe, but also around the world." Moebel said: "We are proud to collaborate with QFZ to establish a facility that allows FedEx Logistics to expand while continuing to deliver for our customers by helping them navigate global commerce with the guidance of regional expertise." President of FedEx Express Middle East, In dian Subcontinent and Africa, Kami Viswanathan, said: "With the establishment of the FedEx Logistics regional facility in Qatars Free Zones, we are not only enhancing our global network, but also reaffirming our commitment to Qatar's burgeoning role in cross-border trade and supporting the growth of the states national economy. Together with QFZ, we are furthering our shared vision for innovation, efficiency, and growth in this dynamic market. We are excited to be at the forefront of this transformative journey and shaping the future of logistics in Qatar." Located at the heart of the Gulf at the intersection of three continents, and with access to 60% of the worlds population within eight hours flying time and five days sailing time, the freight and logistics market in Qatar has been growing steadily. This along with the continued expansion of air and seaports are positioning Qatar to be a logistics leader. Source: Qatar News Agency