Dubai Multi Commodities Centre and Euler Hermes sign Memorandum of Understanding

DUBAI – 2 June 2013The Dubai Multi Commodities Centre (‘DMCC’), a Government of Dubai Authority and Euler Hermes, the world’s leading provider of trade-related insurance solutions, have signed a memorandum of understanding (‘MoU’) to enhance mutual cooperation.

The signing ceremony was attended by Ahmed Bin Sulayem, Executive Chairman, DMCC, and a Euler Hermes delegation led by Massimo Falcioni, CEO, Euler Hermes GCC.

Ahmed Bin Sulayem, Executive Chairman, DMCC, said: “With over 6,600 companies currently operating from the JLT Free Zone, it is essential that we offer our members the most appropriate products and services they require in order to succeed. Today’s MoU between DMCC and Euler Hermes marks our commitment to the ever-growing international business community in Jumeirah Lakes Tower (JLT) whilst highlighting Dubai’s strength as a global hub for trade and enterprise”.

The MoU follows a meeting between Ahmed Bin Sulayem, Executive Chairman, DMCC and Wilfried Verstraete, Chairman of the Euler Hermes Group Management Board, during Mr Verstraete’s recent visit to Dubai. Euler Hermes representatives were also given a tour DMCC’s headquarters, Almas Tower, the tallest commercial tower in the Middle East, based in JLT.

Wilfried Verstraete said: “Euler Hermes has over 100 years of experience in corporate client support and we look forward to sharing our expertise with DMCC’s diverse member base. We are certain that the MoU will be mutually beneficial, as it will enhance the range of services offered at the JLT Service Centre, and enable Euler Hermes to grow its presence in this dynamic region”.

Businesses worldwide are seeking markets in which they can expand, access new customers, and conduct their day-to-day operations in a secure, transparent and modern environment. DMCC provides this infrastructure and over 200 new companies choose to establish operations in JLT every month – more than six companies per day – over 90% of which are new to Dubai.

“Under the terms of the MoU, Euler Hermes will be able to offer all existing and potential DMCC members credit insurance products and services through the JLT Service Centre in Almas Tower, JLT, to safely develop their domestic and export trade,” said Massimo Falcioni.

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