HKMEBC and DMCC signed MOU to strengthen Hong Kong-Middle East business ties
Dubai Multi Commodities Centre (DMCC), the premier free zone in Dubai with 23,600 registered companies, partnered with the Hong Kong-Middle East Business Chamber (HKMEBC) to co-host a significant seminar on September 21, 2023. Titled “Embracing New Business Opportunities: Navigating Hong Kong-Dubai Trade Connections,” the seminar attracted an audience of 500 and explored various aspects of business opportunities in the Middle East, emphasizing the fruitful development of trade connections between Hong Kong and the region.
During the event, DMCC and HKMEBC signed a Memorandum of Understanding (MOU), demonstrating their commitment to mutual support for the Belt and Road Initiative’s goals and exploring collaborations between the business and professional communities of both regions. This MOU reflects the strong economic partnership between Hong Kong and the Middle East.
Established by Royal Decree in 2002, DMCC is dedicated to enhancing the flow of commodity trade. It aspires to consolidate Dubai as the preferred global destination for commodity trade and a leading free zone worldwide. Currently, DMCC hosts a total of 23,600 companies across ten sectors, including traditional commodities, technology and communications, energy, finance, media and marketing, professional services, and healthcare.
Mr. Ahmed Bin Sulayem, Chairman and CEO of DMCC, highlighted the organization’s accomplishments, stating, “In just two decades, DMCC has transformed Dubai into a global commodities trade hub. With over 23,000 companies spanning various sectors, DMCC is more than a commodities free zone; it fosters a diverse community of over 80,000 employees.”
Mr. Sulayem drew parallels between Hong Kong’s connections with neighboring areas and Dubai’s connections with adjacent regions, highlighting their shared economic priorities and security interests. He added, “Today, DMCC accounts for 11% of all foreign direct investment to Dubai. This is a significant demonstration of the value of free trade between Dubai and the rest of the world.”
Dr. Aaron Shum, Founding President of the Hong Kong-Middle East Business Chamber, shared his four decades of firsthand experience trading in the Middle East and encouraged chamber members to maximize their Middle East investments. He emphasized that Hong Kong could serve as a gateway for channeling Middle East capital into the Greater Bay Area (GBA), leveraging the recent Belt and Road Initiative’s focus on the Middle East.
Dr. Shum stated, “I hope to leverage my over four decades of hands-on experience living and doing business in the region to its fullest. I launched HKMEBC as a platform to encourage more people to enter the Middle East market and pave a smooth path.”
Distinguished guests at the conference included Dr. Bernard Chan, HKSAR Under Secretary for Commerce and Economic Development; HE Shaikh Saoud Ali Almualla, Consul General of the United Arab Emirates in the HKSAR; Hassan Al Hashemi, Vice President – International Relations, Dubai Chambers; and Mr. Nicholas Kwan, Deputy Head of the HKSAR Chief Executive’s Policy Unit, who moderated the panel discussion session.
For further information, please contact:
DMCC: Claire Guo, Far East Representative claire.guo@dmcc.ae
HKMEBC: Edward Leung edward@hkmebc.org
About Dubai Multi Commodities Centre (DMCC)
Headquartered in Dubai, DMCC is the world’s most interconnected Free Zone andthe leading trade and enterprise hub for commodities. Whether by developingvibrant neighborhoods such as Jumeirah Lakes Towers and the highly anticipated
Uptown Dubai or delivering high-performance business services, DMCC provides everything its dynamic community needs to live, work, and thrive. Made for Trade,DMCC is proud to sustain and grow Dubai’s position as the global trade destination of choice today and in the future.
About Hong Kong-Middle East Business Chamber (HKMEBC)
The HKMEBC actively disseminates the latest information about Hong Kong and theMiddle East through its business network. It provides business matching arrangements for members, facilitates business missions and exchanges between the two regions, and brings new development opportunities to the Hong Kong business community. With over 250 member companies and business associations from various industries, the chamber has garnered strong support from the local business community and government departments in different commercial sectors
