Dubai Multi Commodities Centre delegation visits France to boost trade ties

Dubai Multi Commodities Centre (DMCC) has successfully concluded its first official visit to France as part of its flagship Made For Trade Live (MFTL) and bilateral business discussions series, expanding relations with the wider business community in Paris and Lyon to support the 2020-2030 Emirati-French bilateral roadmap.

The packed MFTL event in Paris and business meetings in Lyon saw senior DMCC executives address representatives of French businesses from across a range of sectors, exploring how companies can expand their international footprint through DMCC and Dubai. The discussions highlighted the vast array of opportunities that can be unlocked with the strategic geographic location and commercial appeal of Dubai and the ease of doing business in DMCC, which is the fastest growing and most interconnected free zone in the world.

In addition to the significant growth in trade of approximately 28 per cent between the two countries over the past year, France is one of the main foreign investors in the UAE. On the back of President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s state visit to France in July 2022, where a series of Memoranda of Understanding were signed, DMCC sees significant opportunities for further growth in bilateral trade and business relations.

Hend Al Otaiba, UAE Ambassador to France, said: “The UAE and France share a rich history of collaboration and success across a broad spectrum of areas, from arts and culture through to business and trade, an exemplary strategic partnership model to be celebrated. It is encouraging to know more about the unparalleled support that DMCC extends to businesses in setting up and expanding their operations through Dubai and doing business with the world – in turn strengthening the status of Dubai and the UAE as a leading global trade hub. With a record increase in the value of trade exchange between the two nations throughout 2021, there is indeed a strong appetite and potential to further grow bilateral commercial relations over the years to come.”

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “The relationship between the UAE and France is going from strength to strength. The UAE is already home to 30,000 French citizens, His Highness Sheikh Mohamed bin Zayed Al Nahyan travelled to France this year on his first foreign state visit as President, and our governments are in the process of agreeing a raft of new partnerships across trade, energy and investment. With almost 700 French companies registered in DMCC across multiple sectors including technology and finance, all this shows the timing is perfect for a trade roadshow of this kind. The consistent growth in business and trade between our two countries underscores the weight of our economic partnership as well as the major strategic importance of France as a market both for Dubai and DMCC.”

Roadshow

Tapping into its extensive network of key trade and business partners across the world, DMCC held the roadshow and business meetings in collaboration with CCI France UAE, Paris Chamber of Commerce and Lyon Chamber of Commerce.

Agnes Lopez-Cruz, Managing Director of CCI France UAE, said: “As well as being global commercial and cultural hubs, the UAE and France share a rich history of success through collaboration. Our partnership with DMCC builds on this history and we are delighted to be working together to help French businesses seize a range of growth opportunities through Dubai. We look forward to working together closely in the months and years ahead – opening new doors for businesses in both countries and providing a platform for them to thrive and succeed.”

With a long-standing history of deep cultural, diplomatic and commercial ties, France is an important target market for both Dubai and DMCC. In June 2020, the UAE and France adopted a bilateral roadmap for the next decade at the annual UAE-France Strategic Dialogue to expand upon the existing strong economic ties and further strengthen cooperation across key areas including trade, investment, climate change, oil and gas, food security and fintech.

DMCC’s Made for Trade Live roadshows and bilateral business discussions play an important role in promoting Dubai as a prime destination for foreign direct investment (FDI). DMCC reported a record breaking first half of 2022, attracting 1,485 new member companies – the highest since inception. The award-winning free zone is now home to over 21,000 businesses from around the world across a broad range of sectors and industries.

• Business