Ras Al Khaimah Free Trade Zone (RAK FTZ), established in 2000, is a special economic zone in Ras Al Khaimah. [Photo provided to chinadaily.com.cn]

Pingtan Free Trade Zone (FTZ), part of Fujian province's FTZ, has reached a cooperative agreement with Ras Al Khaimah Free Trade Zone (RAK FTZ), a prominent financial hub located in the United Arab Emirates.

The two parties conducted in-depth communications leading up to the signing ceremony held in Pingtan on April 3.

Both parties representing the respective FTZs hope to strengthen exchange and cooperation in a range of fields and hope to write a new chapter of common prosperity.

Ras Al Khaimah Free Trade Zone (RAK FTZ) is a special economic zone in Ras Al Khaimah, which is one of the seven emirates that comprise the United Arab Emirates, along with Abu Dhabi and Dubai. RAK FTZ is around an hour’s drive from Dubai. It has investments from more than 8,000 companies from over 100 countries, representing more than 50 industry sectors.