Dubai Multi Commodities Centre (DMCC) has signed a Memorandum of Understanding (MoU) with Panama-based Logis in order to facilitate collaboration between the two free zones.
Logis is an agri-logistic free trade zone that is being constructed in Panama. Once completed, Logis will be the largest free trade zone of its kind in Central and Latin America.
Under the MoU, DMCC and Logis will work together to exchange knowledge and expertise to support the continued development of thriving commodities marketplaces in both free zones.
Ahmed Bin Sulayem Executive Chairman & CEO DMCC
“This partnership with Logis is a major opportunity to open a vibrant new trade corridor with Latin America. Panama stands as the gateway between Central and South America and Logis is perfectly positioned to host the largest free zone of its kind in the region, especially where agriculture commodities trade is concerned. We are therefore hugely excited about bringing our mutual experiences to the table and moving this relationship forward over the next few years.”
Mr. Sandro Salsano, President of Salsano Group and majority shareholder of Logis, said that, “It is a great honor to partner with the leading number 1 ranked Free Trade Zone in the world. I have known Ahmed and his team for many years. I admire his vision, leadership, and his team’s execution skills. Salsano Group also plans to expand in the Middle East and we are excited to partner with a strategic market leader like DMCC.”
The MoU will also see DMCC and Logis explore opportunities to expand trade between the members of their respective free zones. Both parties will also share market insights, analysis, and forecasts to support the development of commodities trading in both free zones, as per the statement.
