DMCC and China Partnership to Open New Trade Corridor for Coffee Anchored in Dubai
DMCC, the world’s leading Free Zone for trade and enterprise in Dubai, confirmed that the development of its new 7,500 sq/m DMCC Coffee Center, close to Jebel Ali Port harbor, is underway marked by a ground-breaking ceremony attended by China’s Mega Capital Halal (MCH) and Yunnan State Farms Group.
The DMCC Coffee Center, a temperature-controlled facility, will offer world-class infrastructure and services for storage, processing, warehousing and delivery of coffee to precise specifications. The Center is projected to handle up to 20,000 tonnes of green coffee bean annually, with an estimated trade value of up to USD 100 million annually.
Ahmed Bin Sulayem, Executive Chairman, DMCC, said: “There are few things more satisfactory than when a partnership of this scale with MCH and Yunnan State Farms Group comes to fruition, especially when it benefits our trading community here in Dubai as well as connecting right into China’s ambitious trade program and corridor, Belt and Road. The ground-breaking of the DMCC Coffee Centre also marks an important milestone for DMCC and Dubai, as once ready in 2018, we will be the first in the UAE with the capacity to handle up to 20,000 tonnes of green coffee bean at a value of up to USD 100 million annually”.
A report recently released by the International Coffee Organization confirmed that global exports in coffee year 2016/17 increased by 4.8% to 122.45 million bags compared to 116.89 million bags in the previous year. The UAE sits at the center of a region which now accounts for 8 per cent or the trade, or USD6.5 billion of the USD 85 billion global consumer spend on coffee. According to Euromonitor International, this could increase by up to a third by 2030.
Matthew Pang, Director, Mega Capital Halal (MCH), said: “Dubai is a key international gateway for trade as it connects the producing countries with the consumer as seamless as possible. DMCC comes with a strong track-record in enabling this process from infrastructure-build through to trade facilitation, and our partnership will no doubt bring a much consumed commodity to Dubai and beyond”.
The DMCC Coffee Center ground-breaking ceremony was attended by: Ahmed Bin Sulayem, Executive Chairman, DMCC; Gautam Sashittal, Chief Executive Officer, DMCC; Sanjeev Dutta, Executive Director, Commodities, DMCC; Matthew Pang, Director, MCH; Tim Chong, Director Business Development, MCH Commodity Trading DMCC; Irene Zhu, Business Development, MCH Commodity Trading DMCC; Mr. Wu Zhonghong, Deputy General Manager, Yunnan State Farms Group Co.Ltd; and Mr. Zhang Jiwei, Deputy Director, Yunnan Coffee Factory.
The DMCC Coffee Center is due to open in 2018.
Made for Trade, DMCC has firmly established Dubai as a leading center for trading international commodities and the world’s fastest-growing Free Zone. They regulate, promote and facilitate trade across a range of goods from gold, diamonds and precious metals to tea, food and industrial materials. Today, as home to major multinationals and start-ups, they connect more than 13,000 businesses with the world-class services, leading infrastructure and vibrant community they need to thrive and succeed.
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