Dubai Exports and the Dubai Free Zones Council (DFZC) have signed a memorandum of understanding (MoU) to increase business opportunities and boost the value and volume of exports, reinforcing Dubai’s position as a global trade hub. CEO Dubai Exports, Engineer Saed Alawadi and Deputy to the Secretary General DFZC, Dr Juma Al Matrooshi signed the MoU which seeks to facilitate the transfer of knowledge and information, along with tapping new commercial opportunities and utilising resources efficiently. As per the MoU, members of Dubai Exports and free zone companies will be developing business and investment synergies, and will together organise various promotional and commercial activities.
According to the MoU, qualifying companies can become registered members of Dubai Exports while free zone companies can join the Exporters’ Portal in order to access relevant information and avail electronic services.
Speaking about the new agreement, Dr Juma Al Matrooshi said, “In line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and according to the strategic plan developed by Dubai and its free zones to diversify the emirate’s economy and enhance income sources, Dubai has positioned itself as a global platform for export and transit trade.”
He highlighted how the value of free zone trade has reached AED 2.6 trillion, in the last five years, with imports valued at AED 1.5 trillion, transit trade reaching AED 1.03 trillion and non-oil exports amounting to AED 131 billion.
Meanwhile, Engineer Saed Alawadi said the collaboration would enable them to provide service packages, facilitate participation in local and international trade exhibitions and also to offer knowledge exchange platforms, such as workshops, conferences and research studies. He added, “This agreement will also contribute significantly to achieving the Dubai Silk Road Strategy and Dubai’s geo-economic map launched earlier this year under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum.”