DUBAI, 14 September 2022 (WAM) — The DMCC, the world’s premier free zone and commodity trading and corporate authority for the Government of Dubai, has doubled the number of Chinese firms in its free zones, with an average of two. announced the addition of more Chinese companies. one week.
The DMCC is home to 703 Chinese companies, representing nearly 12% of all Chinese companies in the UAE. This growth is underpinned by the longstanding diplomatic and economic relationship between the UAE and China.
DMCC has played a key role in strengthening UAE-China trade ties and increasing the presence of Chinese companies in Dubai. Since its establishment, DMCC has signed extensive agreements with Chinese public and private institutions, strengthened bilateral trade ties, and hosted roadshows and webinars to facilitate the international expansion of Chinese enterprises.
DMCC has created an integrated infrastructure to serve the Chinese business community, including the establishment of the Yingtian Chinese Business Center DMCC in 2017 to assist Chinese companies wishing to establish a company in Dubai. Additionally, DMCC’s website was also launched in Mandarin to make it easier to do business in Dubai. In 2020, a China Service Center will open at DMCC’s headquarters, Armas Tower, with onboarding support in Chinese at all client touchpoints, and a Shenzhen residency to bring DMCC to the doorstep of Chinese companies. staff office was opened.
DMCC Chairman and Chief Executive Officer Ahmed Bin Sulayem said: There are over 6,000 Chinese companies in the UAE and DMCC is proud to be home to 12% of them. Combined with the leading business ecosystem, infrastructure and facilities offered at DMCC Dubai’s strategic location will help Chinese companies expand internationally. ”
The United Arab Emirates and China have historically worked closely toward mutual goals and principles and shared excellent diplomatic and economic ties. The United Arab Emirates is China’s largest trading partner in the Arab world. In 2021, China will also rank first as her UAE’s largest trading partner, accounting for 11.7% of the UAE’s total foreign trade, with non-oil trade between the two countries reaching her AED 212 billion. 27% growth from 2020. A 19.8% increase from 2019. China remained the UAE’s largest trading partner during her first quarter of 2022, with bilateral trade between the two countries reaching her AED 57 billion. Trade volume is expected to grow to US$200 billion by 2030.
This accelerated growth is partly due to the UAE being one of the first countries to join the Belt and Road Initiative and the Comprehensive Strategic Partnership. As a result, the UAE is now China’s largest logistics hub in the Middle East, with more than 60% of China’s trade in the region now passing through her UAE.