The Dubai Multi Commodities Center (DMCC) free zone has announced nine per cent growth in its intake of companies from China in the first half of 2024, taking the total number of Chinese members in its free zone to 900.
The announcement came as DMCC concluded its latest Made For Trade Live roadshow in Shanghai and Shenzhen, its second in China for 2024, where it also held a special briefing on the findings of its latest Future of Trade 2024 report.
DMCC highlighted new commercial opportunities between the UAE and China, with bilateral trade set to reach $200 billion by 2030, buoyed further by the rise of new regional trade blocs, such as BRICS+.
DMCC’s Future of Trade report also found big opportunities for the UAE and China to collaborate more closely on tech and environmentally-sound technologies (ESTs). China is the world’s number one exporter of green technologies and other environmental exports, and a global leader in sales of critical raw materials like graphite and goods such as electric vehicles (EVs) and solar panels. With the UAE and China among the top 10 importers of ESTs in the world by value, the strategic importance of UAE-China ties will rise as both hubs play a leading role in the global sustainability transition.
Over 550 business leaders were briefed on the report’s findings and the advantages for Chinese businesses to expand their operations through Dubai. DMCC executives highlighted that the UAE’s advanced trade infrastructure, supportive economic policies, and the dedicated business ecosystems for high-growth areas at DMCC have resulted in the district becoming home to 15 per cent of the estimated 6,000 Chinese businesses in the UAE.
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