UAE – Mubasher: The Dubai Multi Commodities Centre (DMCC) has signed two memoranda 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.
Under the agreement, the organisations will cooperate to support, strengthen and boost bilateral trade between the UAE and China and attract foreign direct investment (FDI) to Dubai, according to the Emirates News Agency (WAM).
"DMCC has successfully created a global hub for trade in the region, and offers a valuable gateway to Asia. As such, we are perfectly placed to support the Belt and Road Initiative by developing national initiatives and creating new trade flows between Dubai and China," CEO of DMCC, Feryal Ahmadi, said.
DMCC houses round 4,000, or 10%, of Chinese companies in the UAE.
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,” CCPIT Hangzhou’s president Wang Guozhen commented.
