DMCC, a prominent free zone in Dubai, has wrapped up its promotional tour to Shenzhen and Hong Kong, aiming to deepen the already solid bilateral ties with China while scouting for fresh avenues for economic partnerships, trade, and foreign direct investment.
During this tour, DMCC, which is the Dubai Government’s authority on commodities trade and enterprise, inked a Memorandum of Understanding (MoU) with the Hong Kong-Middle East Business Chamber Limited (HKME) to foster innovation and bilateral trade.
This agreement will facilitate a collaboration on sharing market best practices, transferring knowledge and professional expertise, along with providing trade and logistical support. This cooperation aligns with the objectives of the Belt and Road Initiative, aiming to bolster economic partnerships between the nations along the proposed “Belt and Road” route.
Ahmed Bin Sulayem, the Executive Chairman and Chief Executive Officer of DMCC, expressed his enthusiasm about revisiting China to continue fostering strong and collaborative growth. He highlighted China’s significant role as a strategic market for DMCC, which has become a favored locale for over 800 Chinese businesses in its acclaimed community.
He noted that the non-oil trade between China and the UAE, which stood at over $77 billion last year, is anticipated to soar with the UAE’s likely inclusion in BRICS, thereby augmenting the potential of the One Belt One Road initiative.
Shaikh Saoud Ali Almualla, the Consul General of the UAE in the Hong Kong Special Administrative Region, emphasized the shared vision of mutual growth between the UAE and China. He applauded DMCC’s exemplary role in enhancing trade and connectivity between major trade hubs like Dubai and Hong Kong.
During this tour, Ahmed Bin Sulayem was honored with the Extraordinary 40 Award for his significant contribution to the global diamond and jewelry sector. He also took part in a panel discussion at the Jewellery & Gem World Hong Kong event, sharing insights on Dubai’s evolution into a leading global diamond trading center.
In addition, DMCC unveiled a special report titled “Coming of Age – The Future of Lab Grown Diamonds” during the tour, examining the rapid growth of the lab-grown diamond market segment over recent years. This report follows the successful launch of the Lab-Grown Diamond Symposium hosted by DMCC in July 2023.
This tour marks DMCC’s second visit to China in 2023, following the Made for Trade China tour in June 2023 that covered major commercial and trade hubs like Shanghai, Guangzhou, and Chongqing. DMCC showcased the prosperous business environment in Dubai and highlighted its central role as a platform for Chinese companies looking to expand both in Dubai and globally.
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