Dubai's DMCC, the world’s leading free zone for commodities trade and enterprise, signed a Memorandum of Understanding with the Institute of Directors in India, during the 28th Word Congress on 'Leadership for Business Excellence & Innovation', taking place in Dubai from April 17 to 19.
The MoU represents a commitment from both parties to strengthen ties, increase knowledge transfer and boost connectivity with the Dubai-based Indian business community, and identify further areas of collaboration to increase trade. Bilateral trade between the UAE and India has risen from $182 million in 1982 to approximately $53 billion in 2017, a growth trend expected to continue in the coming years.
"Directed by the vision of its leaders, Dubai is built for business. The emirate’s state-of-the-art infrastructure has grown significantly over time, and it has become a modern magnet for international commerce. DMCC is proud to have supported this development story, and contribute to the formation of Dubai’s diversified economy through the provision of multi-sector revenue streams," said Ahmed bin Sulayem, DMCC Executive Chairman.
"It is clear that more trade, more investment and fewer barriers to business is good for Dubai, DMCC and all connected partners. The agreement signed today symbolises that this approach to business is a shared one. We are delighted to be working even closer with the Institute of Directors, and supporting the many Indian businesses wishing to setup in Dubai," he added.
Lt Gen. J S Ahluwalia, President of Institute of Directors, said, "This agreement cements our longstanding relationship with DMCC. It builds on the work we have done together, over many years, to forge even stronger ties between the Indian business community and its counterparts in Dubai and the UAE. This is a significant moment for all involved and we look forward to the next phase of partnership. Together, we will continue to advocate for trade and promote good governance, sustainability, innovation and excellence across all businesses, industries and sectors."