New business incentives, initiatives, innovations, policies and infrastructure have strengthened Dubai’s status as global gateway for trading commodities in the Covid-19 era, industry experts said during the latest instalment of the Dubai Chamber Interview Series.
The virtual event featured an in-depth discussion with Ahmed Bin Sulayem, Executive Chairman and CEO of Dubai Multi Commodities Centre (DMCC), who shed light on key trends and factors driving DMCC’s membership and positioning Dubai as a preferred hub for handling, importing and exporting gold, diamond, coffee, tea and spices.
He also elaborated on the free zone’s value-added services and recent efforts to attract commodity traders from various regions of the world and boost trade flows from and to the emirate.
Attended by 277 from 45 countries, including members of business groups and business councils, representatives from economic and professional bodies and industry stakeholders, the event highlighted competitive advantages offered to companies that are keen to leverage Dubai as a commodities trading hub.
Such advantages include Dubai’s world-class infrastructure, excellent logistics facilities such as DMCC’s coffee and tea centres, 100% foreign ownership, long-term residency for investors, as well as other initiatives such as the World Logistics Passport that are creating new opportunities for boosting Dubai’s trade with promising markets around the world.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC: “Dubai has long been the primary trading hub in the Middle East and has become the destination of choice for international companies looking to expand their footprint in the region and beyond. The strategic location of the Emirate at the crossroads of the world, commercial transparency and ease of doing business make it perfectly positioned to support businesses across any sector. Through being at the forefront of ambition and innovation, Dubai has built a resilient business landscape and an unparalleled ecosystem for business success.”
“DMCC takes this one step further having played a pivotal role in positioning Dubai at the centre of global trade. We have successfully established a dynamic and thriving business district that has redefined the ease of doing business. That is why 18,000 companies from around the globe have chosen to set up in our Free Zone. Looking forward, we will continue to drive the future of trade across a range of industries, boosting economic resilience to ensure Dubai always remains the chosen place for doing business,” Bin Sulayem added.
For his part, H.E. Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry, said the Dubai Chamber Interview Series offers an ideal platform to highlight key economic developments and trade trends, foster open dialogue between public and private sector stakeholders and promote international trade.
H.E. Buamim stressed the importance of the role played by the DMCC in facilitating and expanding Dubai’s non-oil foreign trade and enhancing the emirate’s economic competitiveness on a global level. He added that Dubai Chamber is fully committed to promoting Dubai as a global business hub and supporting local and international companies that are keen to establish a presence in the emirate.
Launched in 2020, the Dubai Chamber Interview Series features live-one-on-one interviews with prominent local and international business figures from a wide range of industries addressing timely issues impacting businesses.
