20 Sep 2019
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DMCC visits Canada
The purpose is to enhance further bilateral trade between the countries
By: Diamond World News Service
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Jun 8 2017 9:16AM
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Reference: 15275  

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Image Courtesy: DMCC
Image Courtesy: DMCC
DMCC (Dubai Multi Commodities Centre) Executive Chairman Ahmed Bin Sulayem took part in a UAE trade delegation organised by Dubai FDI to Canada where UAE Officials visited the cities of Montreal and Toronto, in a bid to enhance further bilateral trade between the countries.

The purpose was to highlight DMCC’s position as a gateway to global trade, which companies from resource-rich Canada can utilise as a platform to access emerging markets across Africa, India and East Asia. Mr. Bin Sulayem held a series of meetings with senior municipal and provincial officials. Representatives from leading private sector organisations attended.

In a meeting hosted by the municipality’s trade council, Montreal Intentional, UAE Officials and the Mayor Denis Coderre discussed the important role that the UAE plays in Canada’s foreign trade as its 15th largest export market.

Mr. Bin Sulayem said, “We welcome close collaboration with decision-makers in Montreal, Toronto, and across Canada to enhance trade flows through Dubai and enable Canadian businesses to grow further.”

The delegation met with the Honourable Christine St-Pierre, Quebec’s Minister of International Relations in Montreal; and sector specialists for the Ontario Government’s Ministry of International Trade; and with representatives from leading Canadian companies. Al Hinton, Advisor at Dubai Investment Development Agency (Dubai FDI), Department of Economic Development, Government of Dubai, said: “The UAE is an important global partner for Canada, and our relationship is deepening. Canada’s exports to the UAE are continuing to rise, growing 14 percent annually according to the most recent data.”

Canada is an important market for DMCC, with the country holding the world's eighth-largest reserves of gold, at 2,000 tonnes, the 10th-largest silver reserves at 7,000 tonnes, and the fourth-largest platinum group metals (PGM) reserves at 310 tonnes, with reserves mainly found in the provinces of Quebec and Ontario. Substantial diamond reserves are abundant in the Northwest Territories.

Mr. Bin Sulayem noted that, “At DMCC, we have created an environment where businesses from across the globe can flourish. We have built an ecosystem of physical, financial and digital infrastructure as well as regulatory frameworks, services, and expertise needed to build a marketplace for success.”

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