Dubai Multi Commodities Centre (DMCC) is a leading global free zone and a government authority responsible for trade in commodities and projects.
It successfully concluded its first promotional roadshow in the Armenian capital, Yerevan, as part of its “Made for Trade” roadshow series.
During this tour, DMCC announced a 20% increase in the number of registered Armenian companies since the beginning of the year.
This promotional tour reflects the rapid growth in economic relations between the United Arab Emirates (UAE) and Armenia.
DMCC Tours Armenia
Armenia has become an increasingly important trading partner for the UAE.
Moreover, it is providing a strategic gateway to various key markets in both West Asia and the Caucasus.
Notably, the UAE is Armenia’s largest trading partner among the Gulf Cooperation Council (GCC) countries and the second-largest globally after Russia.
During the tour, senior officials from DMCC engaged with 120 business leaders across various sectors and industries in Armenia.
They highlighted the advantages of doing business through DMCC in Dubai.
This boasts a strategically advantageous geographic location, facilitating easy access to major global markets.
The tour also emphasized the diverse opportunities offered by DMCC.
Including world-class infrastructure, specialized trade systems, and a business-friendly environment that fosters growth.
UAE is Expanding Its Global Trading Partners
Dr. Nariman Mohammed Sharif Al-Mulla, the UAE Ambassador to Armenia, expressed:
“Our growing relations with Armenia exemplify the UAE’s efforts to expand its network of trading partners worldwide.
Armenian companies will find significant opportunities for growth and expansion in new markets through the UAE.
As the UAE is Armenia’s largest trading partner among the GCC countries.
We encourage Armenian companies to collaborate with DMCC to explore these prospects.”
Armenia is the UAE’s second-largest global trading partner
Ahmed Bin Sulayem, the Executive Chairman and Chief Executive Officer of DMCC, stated:
“Trade and investment flows between the UAE and Armenia are rapidly increasing.
A evidenced by the substantial growth in bilateral trade, estimated at around $2.8 billion in 2023—a fourfold increase compared to 2022.
With the UAE now being Armenia’s second-largest global trading partner after Russia, DMCC is reaping the benefits of the growing UAE-Armenia relations.
By witnessing a 20% increase in the number of registered Armenian companies within our business district since the beginning of the year.”
He added:
“We look forward to further enhancing our relationship with the Armenian business community in the coming years.
Leveraging the available opportunities to develop trade between our nations in various key commodity sectors.
Including gemstones, precious metals, jewelry, agriculture, as well as web 3 technologies and other digital services.”
“Made for Trade” by DMCC
“Made for Trade” event in Yerevan was organized in partnership with the UAE Embassy and the Armenian Businessmen’s Association.
It falls within DMCC’s campaign to attract Armenian companies to Dubai.
Where more than 60 Armenian companies from various sectors are currently registered with DMCC.
DMCC’s promotional roadshow plays a pivotal role in highlighting Dubai’s status as a leading destination for business and investment.
The United Arab Emirates is at the forefront of countries that have paid great attention to combating digital threats through legislative measures, including Federal Decree-Law No. (34) of 2021 regarding combating rumours and cybercrimes, issued by the late Sheikh Khalifa bin… pic.twitter.com/6MyiDztc74
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Through this series of roadshows, DMCC underscores the unique value that makes Dubai an attractive hub for foreign direct investment.
Notably, DMCC contributes 15% to Dubai’s annual foreign direct investment inflows.
In 2023, the free zone achieved its second-best annual performance ever, attracting nearly 2,700 new companies.
The total number of registered companies within DMCC currently stands at approximately 25,000, representing various industries from around the world.
