The Dubai Multi Commodities Centre (DMCC), the UAE’s largest free-trade zone for commodities trade and enterprise, has announced plans to establish an office in Mumbai.
The announcement came during the DMCC’s Made for Trade Live trade roadshow. In the first leg of the roadshow in Mumbai, the DMCC unveiled its partnership with business services firm PP Shah and Associates to establish the representative office.
The DMCC said the move aimed to strengthen the relationship between the UAE and India, supporting the objectives of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed last year.
The representative office will leverage the DMCC’s regulatory framework and its reputation within Indian business circles to provide a comprehensive solution for Indian companies looking to expand through Dubai. It will serve as a one-stop destination for Indian businesses, facilitating their entry and establishment within the DMCC.
Ahmed Bin Sulayem, executive chairman and CEO of the DMCC, highlighted the significance of bilateral trade between the UAE and India, which reached an unprecedented level of USD76.9 billion in the 11 months following implementation of the CEPA, representing a 14% increase.
With more than 3,700 Indian businesses already operating within the DMCC’s free zone, the trade body called the establishment of the representative office in Mumbai a crucial step in strengthening the trade and investment ties between the two nations.
