AXA Partners With French Pavilion at Expo 2020 Dubai
Press release
During the event
Highlights
AXA, one of the largest global leaders in insurance and asset management, has announced its partnership with Cofrex
AXA, one of the largest global leaders in insurance and asset management, has announced its partnership with Cofrex, the official French company responsible for organising and promoting France’s participation in World Expos including Expo 2020 Dubai. As part of the collaboration, AXA will participate at the Expo 2020 Dubai, providing insurance expertise and support to the French Pavilion.
With less than a year to go, Expo 2020 Dubai, dubbed as ‘The World’s Greatest Show’, is one of the most anticipated events in the nation’s history and promises to provide a platform to foster creativity, innovation and global collaboration. With a theme centred on “Connecting Minds, Creating the Future”, the Expo is aiming to trigger new thinking for long-term effect in the Middle East, Africa and South Asia (MEASA) and the wider world. This will be underpinned by three interwoven themes that are fundamental in addressing the most pressing issues of our time: opportunity, mobility and sustainability. With Expo 2020 Dubai, the Emirate will go a step further in inspiring the next generation to spark innovations that will underline the next 50 years of human progress.
Commenting on the partnership, Caroline Bertrand, Chief Marketing, Digital and Customer Experience Officer at AXA Gulf, said: “Our partnership with the French Pavilion of Expo 2020 allows us to be connected with an event that is fully aligned with our ambition to be a forward looking partner for our customers and for society. As a highly anticipated global event, we believe this platform will provide the perfect opportunity for AXA to share our market knowledge and expertise in insurance and risk management, as well as our vision on how insurance can play a positive role in meeting the major challenges of our times.”
Erik Linquier, Commissioner General for the France Pavilion and President of COFREX, added: “The French Pavilion has been conceptualised to showcase how France consistently provides solutions to problems and converts challenges into opportunities. It is apt therefore, that we have partnered with AXA, one of the leading global insurers who are committed to always being one-step ahead of, as well as pre-empting, any challenges that their partners may potentially face. Having made significant contributions in the Gulf Region for over 68 years, we are confident that AXA is the right partner for what will be an unforgettable, immersive and educational experience.”
Located in the area dedicated to mobility, the French Pavilion, under its theme “Lights and Light,” will exhibit France’s innovative vision of ecological and inclusive transition.
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Background Information
AXA Gulf
VAT or Value Added Tax is a form of consumption tax that is imposed on a transnational level. The GCC has agreed to apply a uniform standard rate of 5%. This standard rate will apply to almost all domestic transactions. UAE and KSA will implement VAT on 1 January 2018, and the other GCC countries are expected to implement in the following 12 months.
In limited instances VAT can also apply at 0% (zero-rate), or transactions can be exempt from VAT, or out of scope.
How it works is that taxable businesses are generally able to recover the VAT they incur on their purchases and expenses.
However, as individuals, we are the final point of the supply chain and therefore, will bear the cost as we are not able to recover the VAT.
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