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Dubai Multi Commodities Center announced an annual increase of 24% in the number of registered Chinese companies that carry out their activities and businesses from its free zone, and this comes after the conclusion of its promotional campaign in China, which included a visit to a group of business and trade centers in three Chinese cities, namely Shanghai, Guangzhou, and Chongqing.
This is the first actual version of the promotional campaign to be launched in China after a three-year hiatus, as the center shed light on the promising business environment in Dubai, as well as its role as a central platform and preferred business destination for Chinese companies wishing to expand their presence in the emirate and around the world. .
The center signed a memorandum of understanding with the Lingang Center in the Shanghai Pilot Free Trade Zone (LGSAC), where the two parties will cooperate in a range of key areas, including innovation, business, trade and logistics, and will allow both to provide business services to companies, whether in Dubai or Shanghai. In order to support the facilitation of doing business and the simplification of procedures, requirements and other necessary procedures for companies that aspire to establish their business in both regions.
Lively market
Ahmed Bin Sulayem, CEO and Executive Director of the Dubai Multi Commodities Center, said: “Today, the Dubai Multi Commodities Center includes more than 770 Chinese companies registered in its free zone, and their number is increasing with the passage of time. This makes China one of the most vital markets of strategic importance to the center, as we are witnessing growth and prosperity in relations between the two countries, especially after the value of bilateral non-oil trade has grown to $72 billion. The Memorandum of Understanding signed with the Lingang Center in the Shanghai Pilot Free Trade Zone is an affirmation of our commitment to continue facilitating doing business to attract more trade flows and achieve joint economic development.
A pivotal role
Zhao Yihuai, Deputy Director of the Pilot Free Trade Zone in the Lingang Special District of China (Shanghai), said: “We consider the United Arab Emirates a prominent trading partner, as Dubai plays a pivotal role in supporting and enabling international trade. Our partnership with the Dubai Multi Commodities Center comes at a strategic stage that witnessed the UAE and Chinese leadership meeting on a common goal represented in increasing and growing bilateral trade to $200 billion by 2030. We are very confident that this agreement will be another step towards strengthening these bilateral relations between the two countries. Because it will give companies greater opportunities to access their markets ».
