How to Make a Fortune in Drones: Commodities Trading

photo: DMCC

photo: DMCC

The Dubai Multi-Commodities Center (DMCC), the Government authority on trade, enterprise and commodities in Dubai, announced this week that they have partnered with the Dubai Civil Aviation Authority (DCAA) to create and launch a drone trading platform, the UAE’s first.

The DMCC is a government entity unlike any here in the U.S.; it was established in 2002 to enhance commodity trade flows through Dubai.  The organization is designed to establish Dubai as a regional and international commodities trading hub; other commodities traded are gold, diamonds, pearls, and tea.  Companies are able to establish themselves in the DMCC “Free Zone;” the DMCC provides assistance with licensing, regulation, and other company services.  The DMCC boasts over 11,000 member companies, all of whom live and work in a “Smart City” of over 87,000 people.

In addition to forming the trading platform, commercial drone regulation will be informed by cooperation between business interests – the DMCC – and aviation authorities, the DCAA.

Gautam Sashittal, DMCC Chief Executive Officer, said in a statement: “DMCC continually seeks to identify new opportunities and leverage emerging technologies. We are part of a new era in aviation and are delighted to be the first Free Zone to launch the drone licensing in Dubai which will make it safer and easier to do aerial surveying and gather information.”

Michael Rudolph, Head of Aviation Regulations & Safety, also lauded the partnership:
“Drones play an important role in modern life. From a civil aviation perspective, drones are key to promoting the Dubai Smart Government Vision, and the DCAA are ensuring Flight Safety of Dubai’s airspace. They are also essential for law enforcement organisations to maintain and monitor security on the ground. We look forward to seeing the continued expansion and impact of this technology unfold across both in the public and private sector, and we are pleased to contribute to enabling that outcome.”

With commercial drone licensing coming from the government organization tasked with encouraging trade, the UAE’s drone industry  – or commercial drone businesses interested in joining the DMCC’s Free Zone – could benefit significantly.

 


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