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The Dubai Multi Commodities Centre (DMCC) has signed a Memorandum of Understanding (MoU) with Logis, an agri-logistics free trade zone under construction in Panama.
Once completed, Logis will be the largest free trade zone in Central and Latin America.
The MoU will see DMCC and Logis collaborate to exchange knowledge and expertise to support the continued development of the thriving commodity markets in both Free Zones.
The MoU was signed by Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, and Sandro Salsano, President of the Salsano Group and a major shareholder of Logis.
new trade corridor
Sulayem said: “This partnership with Logis is an important opportunity to open up dynamic new trade corridors with Latin America. Panama is the gateway between Central and South America and Logis is well positioned to have the largest free zone in the region, Especially when it comes to trade in agricultural products. So we are very excited to bring our shared experience to the table and move this relationship forward in the years to come.”
Salsano said: “It is an honor to work with the world’s number one free trade zone. I have known Ahmed and his team for many years. I admire his vision, leadership and team’s ability to execute. Salsano Group There are also plans to expand in the Middle East, and we are excited to partner with a strategic market leader like DMCC.”
expand trade
The MoU will also see DMCC and Logis explore opportunities to expand trade between members of their respective free zones. Both parties will also share market insights, analysis and forecasts to support the development of trade in goods in the two free zones.
The UAE and Panama have longstanding diplomatic and bilateral relations in various fields. Against the backdrop of the rapidly growing economic ties between Dubai and Latin America, in a webinar organized last year by the Dubai Chamber of Commerce and Industry Representative Office in Panama, Panamanian Private Investment Minister Jose Alejandro Rojas called on Emirati companies to use Panama as an opportunity to expand their presence in Latin America. A global gateway to America’s footprint. Therefore, with its strategic location in the center of international trade, there are significant opportunities for further expansion of trade between Panama and the UAE. – arab trade news agency
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