Dubai Welcomes Global Market Share For Kerala’s Agricultural Products
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Chief Executive Officer of Dubai Multi Commodities Center (DMCC), Armed Sultan, stated that Kerala’s food products and agricultural products can get better global exposure for market opportunities. He added that the marketing facilities and infrastructure will be provided for those that want to set up their business in Dubai. Sultan was addressing attendees at the international road show, Made for Trade Live, organized by the Federation of Indian Chambers of Commerce and Industry (FICC).
The roadshow was organized in partnership with the Government of Dubai Authority for Commodities Trade and Enterprise, as well as the DMCC.
CEPA Agreement Increases Kerala’s Trade Potentials
Sultan also pointed out that the tea, spices, gems, gold, and hotel industries have high growth potential in Dubai.
Additionally, he promised that the government and other institutions will provide full support to the sale of innovative products in Kerala. Apart from the agricultural sector, DMCC also wants to promote the tech industry in Kerala. Market potential in the region has also increased following the implementation of the CEPA agreement. The DMCC free zone has also provided an avenue for entrepreneurs from Kerala to easily sell their products as they wish.
FICC Kerala State Council Chairman, Deepak Aswani, stated that the CEPA agreement has made Dubai the gateway for trade and export opportunities for the rest of the world.
The UAE has been making regional bilateral arrangements its priority, ensuring that technology-based industries are taking advantage of the facilities offered by DMCC.
Companies From Kerala Will Have More Support In Dubai
The DMCC free zone has also made it easier for companies to set up. Several benefits have also been highlighted, which include exemption from personal and corporate income tax, owning a business without local partners, and 100% foreign business ownership.
Entrepreneurs from Kerala also have a lot to gain in the region, including the opportunities available in the blockchain and crypto industry. The UAE is one of the friendliest regions for crypto companies as it offers proper regulation for these companies to flourish.
KM Harilal, Joint Director General of Foreign Trade, stated that there will be more trade and industrial opportunities in Kerala. It will open the doors for entrepreneurs in the region to expand the commercial export industry to Dubai. He added that both countries will benefit immensely from the CEPA agreement.