DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – and Chengdu Hi-Tech Industrial Development Zone, one of China’s world-class high-tech parks, have signed an MoU to boost cooperation between the UAE and China.
Sanjeev Dutta, Executive Director – Commodities and Financial Services, DMCC, and Mr. Chen Hongtao, Deputy Director, Chengdu Hitech Zone Management Committee, signed the MoU at the China-UAE Conference on Islamic Banking and Finance (CUCIBF) on January 7, 2020.
“DMCC has close to 500 Chinese member companies, operating in a wide variety of sectors from energy to technology, and precious metals to construction. This figure is on the rise and currently equates to nearly 10% of all Chinese companies in the UAE,” said Sanjeev Dutta, Executive Director – Commodities and Financial Services, DMCC. “The Chengdu partnership will help Chinese companies enter the UAE market and build a foothold to expand trade locally and regionally. Crucially, the partnership will also serve to strengthen the increasingly important UAE-China bilateral trade ties,” he added.
The MoU marks the start of discussions for future collaborations between the two organisations.