DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has signed a Memorandum of Understanding (MoU) with Asia House, the London-based centre of expertise on trade, investment and public policy, to bring a series of high-profile trade dialogues to the Middle East.
Ahmed Bin Sulayem, Executive Chairman of DMCC and Lord Green of Hurstpierpoint, Chairman of Asia House, signed the agreement during a meeting at the Embassy of the United Arab Emirates in London (Wednesday 23 January 2019) and in the presence of His Excellency Sulaiman Hamid Almazroui, United Arab Emirates Ambassador to the United Kingdom.
The MoU sees DMCC and Asia House explore future cooperation on key projects and events in the Middle East, including a major conference at DMCC’s Dubai headquarters in Almas Tower in March 2019. Further information available at: https://cms.dmcc.ae/events/future-trade-middle-easts-pivot-asia.
‘The Future of Trade: The Middle East’s Pivot to Asia’ will take place on 24 March 2019. The conference, sponsored by ABP London Royal Albert Dock, will explore the key trends shaping global trade and investment with a particular focus on technology.
His Excellency Sulaiman Hamid Almazroui, United Arab Emirates Ambassador to the United Kingdom of Great Britain and Northern Ireland, said:
“The political and economic partnership between the United Arab Emirates and nations across Asia has never been stronger. The agreement signed today between DMCC and Asia House reflects this era of prosperity, and the UAE government commends both parties for collaborating to drive trade from Asia through Dubai, the UAE and beyond.”
The MoU follows the highly successful ‘New Global Trade Order’ conference, held in partnership between Asia House and DMCC in Dubai in April 2018, which saw government ministers, WTO officials and leading business figures participate in a high-level dialogue on the shifts in world trade.
Ahmed Bin Sulayem, Executive Chairman of DMCC, said:
“DMCC contributes over 10 percent to Dubai’s overall GDP, and much of this revenue is the result of a successful strategy to attract investment from Asian economies. As the world’s economic gravity continues to shift eastwards, signing this agreement with Asia House is a logical step that will enhance our existing ties with a very important growth market for both DMCC and the UAE as a whole.”
“In times of uncertainty, economic progress requires international partnership, bold decision making and a collective sense of purpose. The upcoming DMCC and Asia House event provides precisely this, and we look forward to March 2019 with great promise,” he added.
The memorandum underscores DMCC’s role in attracting, facilitating and promoting global trade through Dubai. It is also in support of the emirate’s wider economic vision and in particular, the strategy to reignite the ‘Dubai Silk Road’ as outlined in the 'Fifty-Year Charter', announced this month by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.
The agreement also underlines the commitment from Asia House to drive global engagement with the Middle East. Lord Green, Chairman of Asia House, added:
“Given the region’s increasing importance to global trade and investment, Asia House is placing a greater focus on the Middle East. We have launched a Middle East Programme to ensure our stakeholders gain access to the most accurate insights and analysis, and we are committed to holding major events in the region.
“DMCC, as a leading free zone in the Middle East, represents a key regional partner for us, and we look forward to working with them on our upcoming conference in Dubai in 2019.”