DMCC and China explore new opportunities for economic cooperation and trade

DMCCthe main free zone in the world and Dubai Government The authority on commodity trade and enterprise successfully concluded its tour of Shenzhen and Hong Kong, further strengthening the long-standing bilateral relationship with China and exploring new opportunities for economic cooperation, trade and foreign direct investment.

During the visit, DMCC signed a Memorandum of Understanding (MoU) with the Hong Kong Chamber of Business-Middle East Limited (HKME) to promote innovation and bilateral trade. The agreement will allow both entities to collaborate in the exchange of best market practices, the transfer of knowledge and professional experience, as well as the provision of commercial and logistical support. In turn, this will support the goals of the Belt and Road Initiative, strengthening economic cooperation between countries throughout the proposal.”Belt and Road” route.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCCsaying:

“We are delighted to be back in China as we continue on our path of strong, collaborative growth. China holds a key position as one of DMCC’s key strategic markets, while DMCC has become a preferred destination for Chinese businesses with over 800 already established in our award-winning community. With more than $77 billion in non-oil trade recorded last year between China and the UAE, we hope our cooperation will be further boosted through the UAE’s imminent membership in the BRICS, which will enhance the strength and capability of the One Belt One Road initiative. .”

He added:

“As DMCC, we will continue to implement customized services to further support the growth of our Chinese members and stakeholders, while the recently signed MoU with HKME continues to underline our unwavering commitment to improving the business environment, encouraging greater trade volumes and promoting exchange. economic growth.”

His Excellency Shaikh Saoud Ali Almualla, Consul General of the United Arab Emirates in the Hong Kong Special Administrative Region, aggregate:

“Business and trade are at the forefront of economic growth and prosperity. The UAE and China share a vision of mutual growth and prosperity, and our collective responsibility is to nurture and expand these ties. I must thank the DMCC for being a beacon of excellence and innovation in this endeavour, providing a driving force for trade facilitation and encouraging greater connectivity between major trade hubs such as Dubai and Hong Kong.”

During the tour, Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, received the Extraordinary 40 Award, alongside prominent industry leaders, for her role in advancing the global diamond and jewelry industry. He also participated in a panel discussion at Jewelery & Gem World Hong Kong (JGW), one of the world’s leading jewelery events, titled “From rough to bright: charting a course toward an exciting future,” during which he shared insights on Dubai’s path to becoming a leading global center for diamond trading.

During the visit, DMCC also published a special edition of its thought leadership report on the future of trade focused on laboratory-grown diamonds (LGD), titled “Coming of age: the future of lab-grown diamonds”. The report examines the dynamics that have driven the meteoric rise of the LGD market segment in recent years. The publication of the LGD-focused report follows the successful inauguration of the LGD Symposium organized by DMCC in July 2023.

This series of tours marks the second visit to China this year, following the Made for Trade China tour in the trade hubs of Shanghai, Guangzhou and Chongqing in June 2023. DMCC showcased Dubai’s thriving business environment and how DMCC acts as a platform central and business district chosen by Chinese companies to expand in Dubai and internationally.

DMCC has made it a priority to attract Chinese businesses to Dubai by creating a customized ecosystem, including the Yingtian Chinese Business Center DMCC and a Mandarin version of its website. To further assist Chinese businesses, DMCC opened a China service center in Almas Tower with Mandarin onboarding support at all customer touchpoints. In 2020, DMCC also opened a representative office in Shenzhen to facilitate the setup process for Chinese companies.

News source: Dubai Press Office