Dubai Customs International signs MOU with COMESA

In order to develop and modernise its Customs administration, including Customs procedures and rules, electronic systems, financial systems and procedures, human resources systems and organizational charts and business processes between the two entities.

Under the terms of the MoU which was signed between Sultan Ahmed Bin Sulayem, Executive Chairman, PCFC and Sindiso N. Ngwenya, Assistant Secretary General, COMESA, DCI will provide consultancy to COMESA and upon request will co-manage Customs Administration and Customs IT solutions within COMESA. The MoU also calls for providing expertise in human capital training and management as well as setting up an international gold exchange with refining capacity within the COMESA gold producing countries.

Commenting on the MoU, Sultan Ahmad Bin Sulayem, said, "The partnership with COMESA is very strategic for Dubai Customs International as we seek to expand our presence in Africa. DCI is already in active engagement with Djibouti and the current partnership spelt out under the terms of the MoU will help us to serve other important African nations that come under the umbrella of COMESA."

Hamed Fadhil Al Mazrooi, Chief Executive Officer of Dubai Customs International, said, "DCI will work in close co-ordination with COMESA to develop and modernize its customs administration, procedures, rules and electronic systems. The mutually beneficial of expertise and resources will not only abet DCI in furthering its efforts towards modernization, but will also further DCI's commitment to be a globally responsible and socially beneficial organization that takes pride in promulgating best practices and standards."

COMESA representatives visited DCI on February 6th, 2006 and finalized the terms of co-operation under the agreement proposed. COMESA's visit came as member states look to further their goal of benefiting from sustainable economic growth via trade liberalisation and regional integration.

Sindios N. Ngwenya, Assistant Secretary General, COMESA, said, "COMESA's integration and regional policies are aimed at providing significant levels of economic growth and compete in a world market which is becoming increasingly dominated by large trading blocs. Integration tends to promote higher growth through such channels as improved resource allocation, greater competition, technology transfers and learning and improved access to foreign capital. Our MoU with DCI will be mutually beneficial, and will allow us to co-operate on a range of key issues while working towards common goals and objectives. It will also help us make use of Dubai's rich experience in various customs procedures and practices."

The 20 member COMESA was established in 1994 with the aim of promoting regional economic integration through trade and investment. Its main focus is on the formation of a large economic and trading unit that is capable of overcoming barriers that are faced by individual states.