DMCC, US discuss ways to boost trade and investment relations

DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, welcomed  John Rakolta Jr., the United States’ Ambassador to the United Arab Emirates, and Philip Frayne, the United States’ Consul General in the United Arab Emirates, to its headquarters for a meeting with Executive Chairman and Chief Executive Officer, Ahmed Bin Sulayem.

During the meeting, Bin Sulayem briefed the Ambassador on DMCC’s recently launched flagship thought leadership report, the Future of Trade, which sets out a series of recommendations for governments, policymakers and businesses to boost global trade by $18 trillion (Dhs66 trillion) over the coming decade. The group also discussed ways in which DMCC and organisations from the United States can collaborate and form strategic alliances to increase trade ties between the US and the UAE. DMCC is currently home to almost 600 American companies, as well as the American Business Council Dubai (AmCham).

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “His Excellency’s visit to Almas Tower illustrates that the diplomatic ties between the United Arab Emirates and the United States are special, strategic and strong. The productive discussions held today also underscore how important the trade, investment and economic relationship is between the two countries. Home to nearly 600 American firms, DMCC is a key conduit between the United Arab Emirates and the United States - the world’s largest economy.”

He added, “However, we have only scratched the surface in the United States. Looking ahead, DMCC will work closer than ever before with American enterprise and significantly increase the number of US member companies in DMCC. This will be achieved by maximising the trade opportunities presented through professional services, technology, innovation, energy, diamond, coffee and tea, among others. DMCC has an ambitious growth plan in place that will continue to promote Dubai as a top destination for US investment, and connect American companies with trade flows.”

John Rakolta Jr., the United States’ Ambassador to the United Arab Emirates, added: “The US government congratulates DMCC on becoming a world-class centre for trade, contributing significantly to the robust US-UAE trade relationship.”

Following the meeting, Bin Sulayem gave Rakolta Jr. a tour of the Dubai Diamond Exchange (DDE), a state-of-the-art diamond tender facility located within Almas Tower. As one of the world’s leading diamond trading hubs, Dubai plays a vital role in the diamond supply chain, and in turn, is an important part of bringing the precious stone to the US, one of the world’s largest consumer market for diamonds.

DMCC Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities. Whether developing vibrant neighbourhoods with world-class property like Jumeirah Lakes Towers and the much-anticipated Uptown Dubai, or delivering high performance business services, DMCC provides everything its dynamic community needs to live, work and thrive.

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has recently rolled out a company setup offer for businesses worldwide.

The offer provides international companies the opportunity to set up a representative office in one of the world’s leading business hubs in as little as 5 working days with a free 6-month trial period. With no upfront fees, businesses can explore the Dubai market ecosystem without making any initial investments. Companies will immediately benefit from the emirate’s strategic geographic location at the crossroads of the world and an extensive logistics network that provides a gateway to access the region and beyond. The setup process is fully digital, providing smart solutions that allow companies to access DMCC’s wide range of business services from any device, anytime and anywhere.

Businesses will also benefit from a simplified setup requirements (such as no requirement for opening a bank account), an option to apply for a residence visa along with family members, access to DMCC business centre facilities, and the opportunity to connect with DMCC member companies through digital networking platforms. The offer is valid until 31st December 2020.

As the fastest growing Free Zone in the world, DMCC enhances the appeal of Dubai as a prime destination by offering world-class market infrastructure, facilities, a wide range of products and services and a business-friendly environment that sit alongside a robust regulatory framework.

Agencies