Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

FTZ/Industrial Park

HOME > FTZ/Industrial Park


UAE free zone inks deal to promote trade ties with China

July 12, 2018


Abstract : Dubai Multi Commodities Centre (DMCC), the biggest free trade zone in the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MoU) with China Council For the Promotion Of International Trade (CCPIT), DMCC said on Wednesday.

图片3

DUBAI, July 12 (Xinhua) -- Dubai Multi Commodities Centre (DMCC), the biggest free trade zone in the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MoU) with China Council For the Promotion Of International Trade (CCPIT), DMCC said on Wednesday.

The agreement with CCPIT, China's national foreign trade and investment promotion agency, was reached during DMCC's latest Made for Trade Live roadshow in the Chinese central city of Wuhan, the capital of Hubei Province.

The roadshow is scheduled to also go to other Chinese big cities including Beijing, the capital of China, and Shanghai, China's most populous city.

The MoU "highlights Dubai's position as a global gateway and the ideal partner for leading Chinese enterprises to access some of the fastest-growing markets in Central, South and Southeast Asia, Europe, the Middle East, Africa and beyond," DMCC said in an e-mailed statement.

More than 15,000 companies from a wide range of industries and sectors, including energy, financial services, agricultural products, diamonds, gold and base metals, have set up branches through DMCC.

"Signing this agreement represents a significant step forward in DMCC's relationship with the Wuhan business community, and will only serve to strengthen the strong and longstanding economic ties between Dubai and China," said Ahmed Bin Sulayem, executive chairman of DMCC.

For Zhang Aiming, deputy chairman of CCPIT Hubei Branch, the MoU with DMCC will "promote the significant commercial opportunities available to Chinese companies in Dubai."

"We look forward to working alongside the world's leading free zone and connecting the Wuhan business community to exciting growth markets through the global hub of Dubai," Zhang said.

Last year, DMCC's Dubai Gold and Commodities Exchange became the first foreign exchange to list Shanghai Gold Futures outside China.

About 300,000 Chinese nationals live in the UAE, while over 4,000 Chinese businesses operate in the Gulf state.


Related Coverage

Focus

Think Tank

  • The Chinese Race to Artificial Intelligence

    August 10, 2018

    China is no longer just a manufacturing power, but a technologically advance...

  • Made in China 2025 and the Belt and Road Initiative

    August 10, 2018

    The industrial policy of “Made in China 2025” clearly focuses on innovatio...

  • Trump cannot push back China with $113m

    August 8, 2018

    Although the “Belt and Road Initiative” has caused some worries and rebou...

  • Beijing’s maritime gifts

    August 7, 2018

    Beijing seems to be strengthening its capacity building at sea.

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial