- Exploring the opportunity for Spanish firms to expand operations through Dubai was firmly on the agenda during DMCC’s first Made For Trade Live roadshow in Spain
- Over 300 delegates across the two events in Madrid and Barcelona discussed how DMCC serves as market maker, offering access to trade flows across Asia, Africa, and the Middle East
- DMCC Executive Chairman cities Spain as a key source market in delivering the company’s ambitious growth strategy
DMCC, the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities, concluded its two-part ‘Made for Trade Live’ roadshow in Spain.
Over 300 business leaders and industry experts participated in the event across two cities – Madrid and Barcelona – in what was the first event of its kind in Spain for DMCC, and follows the recent launch of its Spanish website – www.dmcc.ae/es.
The timing of the event is significant given the recent rise of the Spanish economy. An annual growth rate above three percent for the past three years, led the International Monetary Fund to raise 2018 growth forecasts from 2.4 per cent to 2.8 per cent in Spain – outperforming Italy, Germany and France. One of the reasons behind the robust economic growth is the increasing number of Spanish firms pursuing growth by embracing foreign expansion.
“At times of financial uncertainty, many European countries are pushing ahead to discover and drive forward investment opportunities in new markets. Situated at the crossroads of the world, Dubai offers unparalleled access to some of the most exciting and fastest growing global markets. The opportunity for Spanish firms to partner with DMCC to access these trade flows, and benefit from international enterprise is one not be missed, and why we are here,” said Ahmed Bin Sulayem, Executive Chairman, DMCC.
“With robust infrastructure, state-of-the-art facilities and world-class services, DMCC enabled its 15,000 plus member companies to trade with confidence. Following the positive discussions across the two days here, I have no doubt we will witness a sharp increase in the number of Spanish companies seeking to join DMCC and help us deliver of ambitious growth strategy of 30,000 member companies by 2025,” he added.
Speaking in Madrid, HE Hissa Abdullah A. Al Otaiba, UAE Ambassador to Spain said: “The United Arab Emirates is one of the most important partners in the GCC for Spain. Spain will have a pavilion at Expo 2020 Dubai and this will mean significant business opportunities for Spanish companies across various sectors.”
The UAE is one of the largest markets in the region for Spanish companies. According to the most recent full-year trade numbers from the UAE Ministry of Economy, non-oil bilateral trade between the UAE and Spain totalled US$2.4 billion (Dh8.8 billion) in 2016.
Speaking in Madrid added: D. José Manuel García-Margallo, former Minister of Foreign Affairs and Cooperation of Spain: “The UAE is diversifying its economy and there is a lot of investment in logistics, health, education and water – these are areas where Spain is very strong. The UAE is a hub, a stable country with a business friendly environment and is open to do work with a diversified economy. It is a good place to be in the world economy, and we expect to see sustained growth in the next three to four years. I am quite impressed with the fast growing pace of the UAE, the prospect of the economy and the determination it has to change its economic pattern.”
During his keynote address in Barcelona, Joaquim Gay de Montellá, President, Foment del Treball added: “Doing business in the UAE is becoming easier, and this is the reason why more Catalan companies are setting up in the country. I am confident that this event, designed to introduce DMCC, will be highly enriching for us all and I hope that more Catalan companies will invest in the UAE, and especially through DMCC.”
Speaking at both events from DMCC were Ahmed Bin Sulayem, Executive Chairman, James Bernard, Director – Sales and Sanjeev Dutta, Executive Director – Commodities in addition to representatives from JAFZA including Ahmad Al Haddad, Chief Operating Officer and Ebtesam Ahmed Al Kaabi, Head of Sales.
Speakers in Madrid included: HE Hissa Abdullah A. Al Otaiba, UAE Ambassador to Spain; D. José Manuel García-Margallo, former Minister of Foreign Affairs and Cooperation of Spain (2011 – 2016); Muhammed Mekki, Founding Partner of AstroLabs; Leticia Torres García, Managing Director, RLD in UAE and Rafael López-DiéguezPiñar, Director of Expansion, RLD.
Whilst the speakers in Barcelona – an event held in collaboration with the Consulate General of the United Arab Emirates Barcelona and Foment del Treball were: HE Salem Alwoais, General Consul, UAE in Spain; Joaquim Gay de Montellá, President, Foment del Treball; Ramón Santmartí, – CEO, Prodeca; Elisabet Coll-Vinent, Director of the International Department, CCB – UAE entry strategies for SMEs; Leticia Torres García, Managing Director, RLD in UAE; Eva Martin and María José Fernández Nebreda, journalist; Joan Canals, President of the International Commission, Foment del Treball.