Dubai Multi Commodities Centre (DMCC) representatives plan to form long lasting ties with Turkey at the UAE Trade Exhibition in Turkey, which is scheduled for September 13-15, 2006 in Istanbul. The DMCC is interested in trading gold and tea with Turkey. The UAE Trade Exhibition in Turkey was organized to build business relationships between the two countries.

DMCC representatives are said to be planning presentations for the exhibition, which promote Dubais diamond exchange, the Dubai Gems Club, the free trade zone, the Dubai Tea Trading Centre, and the gold and commodities exchanges. Turkey imported about $200 million worth of goods from the UAE in 2005.m Earlier in the week, DMCCs chief operating officer, Ahmed bin Sulayem said that the organizations strategic objective is to strengthen Dubais role across multiple commodity sectors as the focal point for international trade.

On July 6, the Emirates Securities and Commodities Authority signed an agreement with DMCC to supervise all the trading floors of the DMCC for the regions gold, diamond, and tea trading exchanges. The agreement provides a more secure investment atmosphere in the commodities and to encourage further investment according to reports by Rapaport.

Abdullah Al Turaifi, executive director of the securities exchange, said the agreement obligates DMCC to abide by the authoritys rules and regulations concerning commodity circulation in licensed markets. Al Turaifi said the agreement was important because of its ability to strengthen electronic supervision according to international standards recognized in these markets.