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Xi'an and Dubai ally to promote free trade

(chinadaily.com.cn)

Updated: 2017-09-13

Xi'an and Dubai ally to promote free trade

The DMCC Free Zone and China (Shaanxi) Pilot Free Trade Zone sign a memorandum of understanding in Xi'an on Sept 11. [Photo/itl.gov.cn]

The Dubai Multi-Commodities Center (DMCC) and the China (Shaanxi) Pilot Free Trade Zone penned a memorandum of understanding to announce their collaboration in Xi'an, Shaanxi province, on Sept 11.

Both sides agreed to share their experience in the trade markets of China and United Arab Emirates (UAE) to partner in finance, logistics and tourism, building a bridge for enterprises from the two countries.

Krysta Fox, executive director of DMCC, hopes that the partnership can be underpinned by the establishment of a development fund, interval meetings and project collaborations.

Li Pingwei, a local Party official, spoke highly of the agreement, and has made plans to send company representatives to Dubai for related training and consultation.

Home to over 13,500 companies, the DMCC is the largest and fastest growing free zone in the UAE. DMCC members enjoy 100 percent capital repatriations and a 50-year tax holiday. The free zone has played a significant role in helping Dubai become a global economic hub.

Xi'an and Dubai ally to promote free trade

Krysta Fox, executive director of DMCC (2nd, L) auditions the equipment at the Lenpo cross-border shopping center in Xi'an. [Photo/itl.gov.cn]

Edited by Zachary Dye

 

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