5 August , 2022 Fdiindia
Kerala, Chennai See Roadshows by DMCC
The Dubai Multi Commodities Center (DMCC), the world’s forerunner Free Zone and Government of Dubai Authority on commodities trade and enterprise, has finished its Made for Trade Live roadshow in Kerala and Chennai. DMCC brought the attention of Indian companies to the benefits of doing business in Dubai in their quest to expand internationally.
The event saw senior executives from DMCC speak to more than 300 representatives from the Indian business community from various sectors and government agencies. The primary topic of discussion by the speakers and delegates at the event was the strategic geographic location and commercial advantage of Dubai. Also discussed was the ease of doing business in DMCC, the most rapidly growing and interconnected free zone globally.
Prominent personalities at the event also spoke about the various opportunities that both India and the UAE can explore to enhance bilateral trade and business relations.
“Facilitating trade, removing barriers to entry, and unlocking new business opportunities are critical components of DMCC’s mandate. Dubai and India share a solid and long-standing trade relationship, and India is currently Dubai’s second largest trade partner. And the latest development that solidifies our relations is the UAE-India Comprehensive Economic Partnership Agreement (Cepa). The agreement, which came into effect in May this year, looks to boost bilateral trade to $100 billion in five years, an increase of 66 percent from the current $60 billion,” said Ahmed bin Sulayem, executive chairman and chief executive officer, DMCC.
“Through these roadshows, we showcase the unparalleled potential that DMCC has to offer for businesses looking to set up a company in Dubai. While the diplomatic and trade relations between the UAE and India have increased substantially over recent years, there is still a lot more we can do together by supporting exporters and businesses in both countries,” he added.
DMCC’s Made for Trade Live series is vital in promoting Dubai as the top destination for foreign direct investment (FDI). DMCC attracted a record-shattering 2,485 new companies to the free zone in 2021. Since it was established, it also reported the highest first quarter of company registrations in 2022. The total number of member businesses now stands at more than 21,000.
“We are happy to partner with DMCC to discuss business opportunities in the UAE for our members in Chennai and Kochi. With the UAE-India Comprehensive Economic Partnership Agreement now in place, the commercial outlook for setting up a company in Dubai is high on the agenda for many Indian companies. DMCC, as a leading free zone, would provide these companies with the opportunities to further trade and investment,” said the Federation of Indian Chambers of Commerce and Industry (FICCI).