Dubai’s leading freezones, Dubai Multi Commodities Centre (DMCC) and Jebel Ali Free Zone (JAFZA) will work together to bring warehousing solutions and logistic services to member companies in the DMCC Free Zone.

Based on an agreement between both the freezones, DMCC member companies can make use of the full warehousing solutions and logistics services of JAFZA to boost trading through the emirate.

DMCC member companies will be exempt from registration and licensing fees related to this new service, a statement said. Logistically, DMCC members will be able to trade under a free zone customs code that exempts them from any customs duties and VAT schemes.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Under our agreement, DMCC member companies will gain access to all of JAFZA’s state-of-the-art warehousing and logistical services at no extra charge through a single point of contact.”

“This collaborative agreement provides a strong incentive for DMCC-based companies to leverage the facilities available at JAFZA, while streamlining our business processes to support our customers,” he added.

Mohammed Al Muallem, Chief Executive Officer and Managing Director of DP World, UAE Region and CEO of Jafza said: “Collaboration is an essential part of growing together for our nation’s economy. Jebel Ali Free Zone is pleased to be offering a new benefit which will increase commercial activities through our facilities.”

Al Muallem added: “We have excellent multimodal connectivity which will be a boon for member companies at DMCC wanting to import and export goods in and through Dubai. This, in turn, plays a key role in Dubai’s growth and both organisations show a strong commitment to reinforcing the UAE’s economic and commercial strength.”

Jafza and Jebel Ali Port contributed 33.4 percent of Dubai’s GDP in 2017. The Free Zone generated trade worth $93 billion in 2018.

(Writing by Gerard Aoun, editing by Seban Scaria)

(gerard.aoun@refinitiv.com )   

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© ZAWYA 2019

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