Around 400 business leaders and senior government officials attend DMCC’s latest Made for Trade Live roadshow in the Chinese cities of Hangzhou and Qingdao
The world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has signed two new strategic partnership agreements with Chinese authorities during visits to the cities of Hangzhou and Qingdao as part of its sixth Made for Trade Live roadshow of 2019.
DMCC signed a Memorandum of Understanding (MoU) with the Hangzhou China Council for the Promotion of International Trade (CCPIT), and the Department of Commerce of Shandong Province in Qingdao. The agreements commit the organisations to work together to support, strengthen and boost bilateral trade between the United Arab Emirates (UAE) and China, and attract foreign direct investment (FDI) to Dubai. Over 4,000 Chinese companies are already based in the UAE and 423 in DMCC, making DMCC home to around 10% of the Chinese companies in the UAE.
Around 400 business leaders and senior government officials attended the events and discussed the growth potential that Dubai and DMCC offer Chinese companies seeking to expand their global footprint. Both events received the official support of the United Arab Emirates Ministry of Foreign Affairs And International cooperation
China is one of the UAE’s largest trading partners, with trade between the two countries expected to reach up to AED 257 billion by 2020. China remains Dubai’s top trading partner with a market value reaching AED 139 billion in 2018.
“We are pleased to be signing a partnership agreement with DMCC, a leading global Free Zone with strong ties to China. This collaboration will enable us to further support China’s Belt and Road Initiative and strengthen and diversify trade ties between our two countries. We look forward to working closely together and introducing investment opportunities to our business community in Hangzhou.”
DMCC has attracted over 3,000 businesses from 17 cities around the world to its Made for Trade Live roadshows. The programme brings together business leaders interested in expanding their home base and offers them insights into the commercial appeal of Dubai and the opportunities it offers for growth in the region and beyond.