Thursday 21 October 2021

DMCC signs agreement with ABCC to bolster trade

DUBAI, 28 days ago

Dubai's DMCC, the world’s flagship free zone, has recently signed an agreement with the Arab-Brazilian Chamber of Commerce (ABCC),strengthening their existing and long-standing partnership during DMCC’s visit to Brazil.

Led by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, the DMCC delegation  engaged with local and central government bodies and the Brazilian business community to explore new bilateral trade opportunities.

The memorandum of understanding (MoU) commits both parties to collaboratively support, connect and provide attractive business opportunities for companies looking to set up in Dubai and DMCC.

Ahmed Bin Sulayem signed the agreement on behalf of DMCC, while ABCC was represented by Osmar Chohfi, President, and Tamer Mansour, CEO and General Manager.

Ahmed Bin Sulayem said: “Brazil has always been a strong trading partner and today remains the world's largest coffee exporter. Most crucially, DMCC’s interest in Brazil is in part thanks to the country’s general direction in terms of quality, sustainability and innovation – great examples being the cultivation system of Cabruca where cacao trees grow in the shade of other trees native to the ecosystem, meaning no deforestation and the cacao innovation centres in Southern Bahia.”

Osmar Chohfi added: “It is a great satisfaction for the Arab-Brazilian Chamber of Commerce to strengthen its cooperation with the DMCC. Brazilian companies will be able to set up branches in the emirate of Dubai to explore existing business opportunities there, as well as the possibilities existing throughout the Arab world. Brazil and the United Arab Emirates have a productive and long-standing partnership in food security, which still has plenty of potential for further sustainable growth”.

DMCC also met with several senior government officials across Brazil, including João Dória, governor of São Paulo province, and Romeu Zema, governor of Minas Gerais.

Underlining its position as a leading business hub and gateway for global trade, DMCC shed light on the ease of doing business in Dubai and within DMCC, and highlighted its commitment to supporting the presence of Brazilian businesses in the Emirate.

Particularly relevant to the Brazilian market, DMCC recently announced plans to launch a state-of-the-art DMCC Cacao Centre in Dubai as part of its long-term growth strategy and vision to continuously widen the range of commodities under its umbrella. In Brazil, DMCC took the opportunity to visit a number of cacao farms and meet with industry professionals and experts in order to better understand the needs of the market and explore how Dubai can play a central role in its sustainable growth.

Brazil is considered a major player in agriculture and many other key commodity markets, from coffee, meat and cacao to gold, metals and precious stones. The UAE serves as the main entry point for Brazil to the GCC and the rest of the region. Over 60 Brazilian companies are already based in the DMCC. – TradeArabia News Service


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