DMCC, one of the world’s leading commodity hubs for trade and enterprise, has signed a MoU with the Dubai Economic Council (DEC) to further enhance the emirate’s global position as an inclusive, efficient, transparent and compliant marketplace for commodities trade.

It serves to provide a framework of support and strategic co-operation on commodities trade including ways to enhance efficiencies; corporate governance and regulation; support further publication of commodities statistics; and further implementation of responsible sourcing measures in line with international benchmarks.

Ahmed Bin Sulayem, the executive chairman, DMCC, said the agreement with DEC will unlock further opportunities to enhance Dubai’s position as the global commodities hub for trade and enterprise.

"It is crucial to offer the international trading community an inclusive, efficient, transparent and compliant marketplace which is why collaborating with the Dubai Economic Council is key to bring our combined efforts to the next level," noted Bin Sulayem.

“DMCC continues to innovate and progress in commodity trade facilitation and implementation of industry best practices, and we hope to see further alliances with other entities in the future,” he added.

Hani R. Al Hamli, the secretary general, DEC, said: "As Dubai further reinforces its position on the global stage, it is essential that we collaborate with like-minded partners to ensure that our reputation within the commodities sector is maintained."

"DMCC has a positive background in responsible sourcing accomplishments and we look forward to working alongside them on taking a number of our mutual ideas forward," observed Hamli.

DMCC has a strong track record in trade facilitation and development and delivery of world-class products, services, infrastructure and standards to support and grow commodities trade, he added.-TradeArabia News Service