DEDC and DLC MoU to facilitate Dubai's economic development

The five-year MoU framework between DEDC and DLC will further increase Dubai's total non-oil export commodities for this year, which stood at Dhs27.1bn last year.

Both parties will work together to broadly encourage maximum co-operation to establish innovative businesses and to develop customer export prospects.

"One of Dubai's economic priorities is to diversify its export potential and to become the Middle East's exporting hub. DEDC is continuously looking for partnerships with Dubai's leading business clusters providing industrial and service activities such as the Dubai Logistics City,"

said Engineer Saed Al Awadi, Chief Executive Officer, DEDC.

"Over the past decade, the Middle East has seen tremendous imports and exports growth. Dubai is fast becoming the region's exports and logistics hub and with the establishment of the new Al Maktoum International Airport - set to be the world's largest - around which DWC is centred, we see Dubai becoming one of the trade capitals in the world. Our alliance with DLC will provide us with high-value logistics services and integrated supply chain management solutions which will strengthen Dubai's export and trade growth," Al Awadi added.

DEDC and DLC will actively promote exports to their customers and members including third party co-ordination to enable maximum participation of industries in the export process.

Additionally, a joint management committee will be established to oversee the smooth exchange of trade and industry information and services between the parties to their mutual benefits.

"DLC was established to facilitate the growth of the region's import-export potential which has been re-enforced by the double digit growth witnessed by the Middle East's logistics industry - over 84% seen by Dubai itself over the last four years - as proof that the GCC, and countries beyond, have seen increasing trade benefit volume growths," said Abdulla Al Qurashi, Chief Executive Officer, Dubai Logistics City.

"DLC's proposition as a one-stop logistics shop both inbound to the emerging markets and outbound to the consumer hungry markets of the West gains greater significance as the region's aviation projections complement Dubai's booming logistics and transportation infrastructure, eventually boosting Dubai's exports."

Through the agreement, DEDC will support Dubai Logistics City's seminars, events and exhibitions including providing value-added export promotion.

DEDC will also encourage aviation, logistics and supply chain industries within Dubai World Central as well as export financing and credit insurance schemes for partner members.

DLC will promote DEDC membership to its customers and clients and assist them in analysing trade and export data and formulation of strategic initiatives towards Dubai export promotion.