Dubai Multi Commodities Centre (DMCC) has signed an agreement with the Administrative Committee of Beijing Daxing International Airport Economic Zone (BDIAEZ) in order to establish a cooperation mechanism to achieve greater strategic collaboration on bilateral projects and trade.
The two entities will work together to become a model for global free trade zones through the transfer of knowledge and expertise, leveraging DMCC’s experience in attracting and managing a diverse set of businesses and utilizing its world-class infrastructure.
“The economic ties between UAE and China continue to strengthen and grow rapidly, which reflects the impact we can have when we work together with trade partners towards mutually beneficial outcomes. This strategic agreement with BDIAEZ builds on this since it will further boost collaboration between Dubai and Beijing and promote new opportunities for businesses looking to expand and access new markets. Through this collaboration, we will provide a platform for any entity looking to tap into their potential and succeed by enhancing the ease of doing business.”
As a result of the agreement, both entities will provide guidance and support to any business interested in setting up in DMCC or BDIAEZ and simplify the requirements, processes, and costs associated with such a move.
According to the statement, “They will also explore the joint development of an industry cluster in each free zone and share the trade infrastructure, seek to create highly globalized, interconnected and open policies for the industry and attract companies to these business districts.”
Mr. Youguo Wang Secretary of the Beijing Daxing District Committee of the Communist Party of China, and Secretary of the CPC Work Committee of BDIAEZ (Daxing), said that, “Our partnership with DMCC marks an exciting new chapter for BDIAEZ. Crucially, it will also support China’s Belt and Road Initiative, using both cities as launchpads for building cooperation. We look forward to the new opportunities this strategic agreement will bring, as we are confident, they will lead to additional interconnectivity between Beijing and Dubai.”