The Dubai Export Development Corporation (DEDC), the Dubai government body charged with promoting exports from the emirate, has signed a memorandum of understanding with TechnoPark, the science and technology facilitator of Economic Zone World, to promote and develop export potentials in Dubai.

Under the three-year MoU framework, both parties will work together to broadly cover the range of co-operation and encourage maximum industry participation in the export process. Services and support will be provided by the DEDC and TechnoPark to facilitate growth of Dubai exports, said an official spokesman.

“Economic empowerment of Dubai through export promotion is a growth diversification priority of the Emirate. TechnoPark is focused on research and development and a programme of mutual co-operation is essential to increase the export potential of various industries,” said CEO, DEDC, Saed Al Awadi.

“This agreement seeks to identify the broad areas of collaboration between parties to facilitate symbiotic functioning towards Dubai’s economic development.”

During the partnership, DEDC and Technopark will jointly set out principles of exchanging information and data to effectively facilitate and ensure economic growth of Dubai.

Among information to be shared are regulations, procedures and data information, as well as baseline non-confidential information on related local, federal or applicable international trade laws.

“Our core competencies are to facilitate research and innovation in Dubai by devising cutting-edge solutions and advancements in technologies. Our partnership with DEDC will enhance competitiveness of TechnoPark exporters and will enable export financing schemes,” said managing director, TechnoPark, Hamad Al Hashemi.

Through the agreement, TechnoPark will create one-stop shop for all export documentation and promote networking partnership to expand and boost exports. DEDC and TechnoPark will also work with other government economic agencies on customer requirements and will formulate export diversification strategy for potential customers.

Both will provide local and international export research findings including economic data, export opportunities, sub-contractor data and exporters/importers database.

Major suggestions on improving trade and business services shall also be shared mutually by both parties.

Additionally, a joint management committee (JMC) will be formed by DEDC and TechnoPark to manage and oversee the partnership guaranteeing the achievement of goals. – TradeArabia News Service