DMCC is a major destination for Latin American companies

Staff Reporter, Gulf Today

Dubai Multi Commodities Centre, DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – welcomed  Iván Duque Márquez, the President of Colombia, along with a senior delegation of Colombian ministers and 50 Colombian business leaders, to discuss advancing bilateral trade between Dubai and Colombia.

The visit was marked by an event attended by over 100 stakeholders that connected senior Colombian public and private sector figures to their Dubai counterparts, as well as Colombian business leaders already based in Dubai. The event promoted collaboration on enhancing trade opportunities between the two countries.

Colombia is a key market for DMCC given the country’s deep experience within the coffee industry – Colombian coffee exports amount to over 780 million kg per year. Throughout the networking event, many Colombian business expressed interest in the DMCC Coffee Centre, with DMCC highlighting the benefits of using its services for the roasting, packaging, testing and global distribution of coffee.

DMCC is fast becoming a major hub for Latin American companies looking to expand in the region and access global markets. Particularly relevant to the Colombian market, DMCC recently announced plans to launch a state-of-the-art DMCC Cacao Centre as part of its vision to broaden the range of commodities it caters to. DMCC also recently announced the expansion of its Coffee Centre, tripling capacity to keep up with growing global demand.

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. Made for Trade, DMCC is proud to sustain and grow Dubai’s position as the place to be for global trade today and long into the future.

Meanwhile, Korean International Trade Association announced the successful completion of Dubai O2O Exhibition, Online Export Conference and Consumer Event held at Club 2020, Expo 202 from November 1st to 3rd along with Korea SMEs and Startups Agency, Korea Foundation for Cooperation of Large & Small Business, Rural Affairs and CJENM.

To support this event and to hopefully host World EXPO 2030 in Busan, Chairman Koo, who was on his way for his first foreign business trip said “Our association has worked for the business corporation between South Korea and the Middle East through Korea-GCC business forums and Korea-UAE business dialogue” and “This event which is to celebrate Dubai EXPO is expected to be the opening to enable UAE and South Korea which have made miracles in the desert and Han River to overcome the pandemic and to create new opportunities.”

During the event, 50 companies that produce promising consumer goods including beauty, life, food products participated, and connected with more than 200 buyers in the Middle East and held more than 600 consultation sessions. Buyers experienced and tested the products in the exhibition booth and had consultations via online meetings.

KITA invited more than 200 buyers in the MENA region including UAE, Libya, Morocco, and Kuwait that has previously not been easily accessible and arranged more than 600 B2B online consultation sessions with the domestic companies. For domestic companies that are facing difficulties to travel for business trips due to COVID-19, KITA supported the marketing activities by hiring professional MDs who oversee explaining the product to the buyers and the visitors. Furthermore, the unique display layout of the participating companies’ products in the exhibition composed of kitchen, living room, and powder room caught the buyers’ attention.

Food company Egtech said “Last August in the Moscow O2O event, samples of konjac product were sent and has a great potential in the market. In the future, we will make tangible outcomes by actively utilizing the export support programs of KITA.” A local promotional event was also held for tourists from all over the world who visited the EXPO for two days from the 1st of November. In the promotional exhibition, various events were also held, including mini-concerts by K-pop stars, cover performances by local dance groups, and traditional Korean game experience events inspired by Squid Game.