Business
18:46, 11-Jul-2018
UAE free zone inks deal to promote trade ties with China
Updated
18:24, 14-Jul-2018
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Dubai Multi Commodities Center (DMCC), the biggest free trade zone in the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MoU) with the China Council For the Promotion Of International Trade (CCPIT), DMCC said on Wednesday.
The agreement with CCPIT, China's national foreign trade and investment promotion agency, was reached during DMCC's latest Made for Trade Live roadshow in the Wuhan, the capital city of central China’s Hubei Province.
The MoU "highlights Dubai's position as a global gateway and the ideal partner for leading Chinese enterprises to access some of the fastest-growing markets in Central, South and Southeast Asia, Europe, the Middle East, Africa and beyond," DMCC said in a statement.
About 300,000 Chinese nationals live in the UAE, and over 4,000 Chinese businesses operate in the Gulf state.
Last year, DMCC's Dubai Gold and Commodities Exchange became the first foreign exchange to list Shanghai Gold Futures outside China.
Source(s): Xinhua News Agency