RAS AL KHAIMAH // The emirate plans to strengthen trade ties with Afghanistan, said Sheikh Salem bin Sultan, the chairman of the RAK Civil Aviation Authority.
He was speaking to 250 ministers and investors from Afghanistan, Pakistan and the US at an Afghanistan reconstruction summit yesterday. "We want to use Ras al Khaimah as a base for the companies who are rebuilding Afghanistan, for their passengers and for the workers who will be serving this mission," said Sheikh Salem.
Speakers at the summit called on economic investment to provide solutions for basic humanitarian needs. Pamir Patang, chief of staff of the Afghanistan ministry of commerce and industry, said there were plans to generate "a million new industrial jobs" in areas that include marble production, carpets, gemstone and jewellery, leather and metal production. "These opportunities are real and are being acted open now. From saffron to steal, Afghanistan is open to business," he said.
For its part, RAK International Airport plans to increase cargo and charter flights. "RAK is untapped with the greatest potential to put in place in the needed infrastructure. People can treat this as a medium to long-term posting," said Roland Blaney, the airport's chief executive
Afghanistan's economy has enjoyed eight years of double-digit growth thanks to a stronger legal framework, 100 per cent foreign ownership and a flat 20 per cent corporate tax rate, which has helped to attract investment.
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US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
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