Welcome Guest | |
Submit Your Sourcing Requirement
Advanced Search Filtersdown arrow
left border  
left border  
Last Updated:[19-06-2009 07:15:46 EDT] Zoom in Zoom out Back to Tradenews

IPTIC Moves its Global Headquarters to Dubai from Europe

tradenews The latest release of Dubai Multi Commodities Centre (DMCC) stated that the International Pulses Trade and Industry Confederation (IPTIC) had decided to relocate its headquarters from Europe to Dubai. President of the IPTIC, Dr. Jose Maria Lazara is learned to have said that the decision to shift their base to Dubai is particularly because of its strategic location, free zone advantages, excellent port, shipping and re-export infrastructure which was ideal for further growth of international pulses trade.

The International Pulse Trade and Industry Confederation (IPTIC) is also known by its French name, Confédération Internationale du Commerce et des Industries des Légumes Secs (CICILS). It was established in 1963 and represents 12 national pulse organizations and more than 250 leading companies in 32 countries. The IPTIC undertakes the international pulse trade activities, notably in the International Bodies of the United Nations (OECD, FAO, WHO, Codex Alimentarius), Regional Governmental Organizations (European Union) and International Trade Organizations.

On the other hand, the DMCC was formed by the Dubai Government in 2002 to facilitate commodity trading in Dubai to leverage the geographical advantages of the largest pulses trading MENASA region that comprises of the Middle East, North Africa and the South Asia. MENASA accounts for importing almost 4mn tons or 60 percent of global trade in the pulses.

The major relocation reason comes from the fact that besides commodity market infrastructure, the DMCC resident companies are provided with highly attractive benefits under the free zone status, such as, a 50-year guaranteed tax holiday, 100 percent business ownership, full ownership of business premises, and a secure regulated environment.

Major legume trading countries including Australia, Canada, the US, India, China, France, Spain, Turkey and Argentina conduct most of their trading operations under the umbrella of IPTIC. The organization also account for over 60mn tons in pulses production and 100bn dollars of pulses industry at the retail level.

By Jose Roy

What do you feel about this Trade News?
Feel free to write COMMENTS
*Your Email Address:
*Your Message:
Please refresh the screen if you
can't read the following text
*Enter above security code : 

Delicious.com Digg.com Facebook.com Google.com/bookmarks Yahoo! Bookmarks reddit.com