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DMCC Free Zone Seeks To Strengthen Ties With India Dubai Multi
Commodities Centre, a free zone in the United Arab Emirates (UAE), announced
that it recently welcomed a high-ranking delegation from Madhya Pradesh, a
state in central India.
The visit aimed to strengthen trading ties and international relations
between the UAE and India and explore mutual cooperation opportunities.
Gautam Sashittal, Chief Executive Officer of DMCC said: "The UAE and India
have enjoyed strong trading relations for many years and, as these relations
continue to evolve, we see the commodities market trade grow and mature at
an unrivaled pace, thanks to the strong collaboration between Dubai and
states such as Madhya Pradesh. We look forward to further collaboration with
Madhya Pradesh and to explore the opportunities awaiting both parties as we
continue to position Dubai as the global hub for commodities trade."
The DMCC Free Zone, based at Jumeirah Lakes Towers in Dubai, offers a well
regulated environment that includes 0 percent personal and corporate tax
rate, as well as 100 percent capital repatriation with no currency
restrictions.
There are over 9,000 member companies operating from the DMCC Free Zone
today, including 1,600 Indian registered companies, of which a large
proportion are jewelry and gemstone businesses, and service providers based
in Almas Tower.
In 2013, India was once again Dubai's biggest trading partner with the
two-way trade hitting AED137bn (USD37.3bn), representing a 10 percent share
of the UAE's overall trade. The UAE is also India's top export destination,
accounting for more than 10 percent of its tangible exports.
Aug 27, 2014 |
