An event titled Dubai – Your Gateway to Global Trade was organised by the ABCC working in partnership with the Dubai Multi Commodities Centre (DMCC).
The event was designed to explain how companies can establish a business interest in Dubai with maximum ease and efficiency through the DMCC, described as “the world’s fastest growing Free Zone”. In 2021, Dubai Multi Commodities Centre was named the Global Free Zone of the Year by the Financial Times for the seventh consecutive year.
The meeting heard that nearly 2,000 UK companies were already operating in the DMCC.
The DMCC promotes and facilitates trade across a range of goods from gold, diamonds and precious metals to tea, food produce and industrial materials.
Chairing the discussion, the Rt Hon Baroness Symons, ABCC Chairman, emphasised the strategic importance of Dubai as an established gateway for international trade, with a growing significance in the post-pandemic recovery period.
Delegates and speakers were also welcomed to the Chamber’s premises by Mr Bandar Reda, ABCC CEO & Secretary General and Mr Abdeslam El-Idrissi, Deputy CEO & Secretary General.
The agenda for the meeting consisted of a ‘Meet the Experts’ panel discussion moderated by Mr James Bernard, the DMCC’s Regional Representative for Europe.
H E Ahmed Bin Sulayem, the Executive Chairman and CEO of DMCC, delivered keynote remarks to an executive audience of potential investors.
He described the DMCC as representing the logistics strength of Dubai and outlined its important role in the markets for high value commodities, such as diamonds and the tea trade.
Tasked with enhancing commodity trade flows through Dubai, DMCC has introduced to the market a number of value-added products and services under Mr Bin Sulayem’s leadership.
Mr Bin Sulayem has overseen the exponential growth of the DMCC master development in Jumeirah Lakes Towers (JLT), which is a 200-hectare business and residential community of over 100,000 people. Mr Bin Sulayem also oversees the development of DMCC’s latest real estate project, the Uptown Dubai district.
Mr Bin Sulayem also serves as Chairman of the Dubai Diamond Exchange (DDE) and the Dubai Gold & Commodities Exchange (DGCX).
The panel of experts consisted of Ahmed Al-Balaghi is the Co-founder & CEO at Biconomy, an exprt in crypto and blockchain; Sanjeev Dutta, Executive Director of Commodities and Financial Services at DMCC; and Antonio Tombanane, founder of GBE Connect Ltd, a leading voice in UK technology.
With more than 20,000 businesses currently operating within the DMCC, ranging from newer start-ups to well-established multinational corporations, Dubai has undoubtedly established itself as one of the key international economic hubs. New companies were joining the DMCC at a rate of 170 per month, it has been reported. The event explained exactly the attractions and incentives that were on offer.
Boasting some of the most advanced infrastructure available anywhere in the world, from world-class digital and internet access and its renowned sea and airports, Dubai is able to bring the rest of the world right to a company’s doorstep.