Curaçao as a new gateway for international commodity trading
A long term lease agreement between Curaçao Airport Holdings (CAH) and C-MCC Development Group LLC, was signed in Curaçao recently. The agreement provides for the Airport Terminal Building, and 200 additional acres – 81 hectares – for the development of the Curaçao-Multi Commodities Centre (C-MCC) Worldwide Free Trade Zone. The C-MCC will be the economic engine to spur development in Curaçao’s Airport City as well as stimulating trade throughout the Americas.
The C-MCC Development Group LLC is a US-based development group and holding company of C-MCC Worldwide, with extensive experience in international real estate development, technology, and international commodity trading. Patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab Emirates (UAE), the C-MCC Worldwide Free Trade Zone will establish Curaçao as the Western Hemisphere’s gateway for international commodity trading, serving North, Central and South America, Europe, the Middle East, North Africa and Asia.
The C-MCC will integrate the proven business models of DMCC and DIFC, in Curaçao, utilizing many of the key executives responsible for the rapid growth of DMCC. They will be supported by Curaçao’s remarkable resources including a deep-water harbor and airport, a burgeoning technology sector, and the country’s central location and reach into the markets of the Americas. The C-MCC Worldwide office will bring international commodities trading - both physical and electronic - in gold, diamonds, precious metals, precious stones and other commodities including oil, steel and coffee. This initiative will subsequently be followed by a second phase free trade zone development on the island, also under the management of C-MCC Worldwide.
Commenting on the project, Ian MacDonald, President of the C-MCC Development Group LLC, and former Executive Director of the DMCC in Dubai,said, “The vision to create free trade zones in an empty desert in Dubai was the catalyst in transforming the land into a thriving, robust modern economy with world class iconic buildings. During my tenure at DMCC we witnessed an influx of major global institutions and multinational corporations join the free trade zone.” Similarly, C-MCC Worldwide’s aim is to provide an ecosystem of physical, financial, technological and regulatory infrastructure required to enable and streamline business, trade and establishCuraçao as the Western Hemisphere’s premiere international trading hub and gateway to the world, thereby playing a decisive role in the economic evolution of Central and South America.
George Kearns, C-MCC Chairman and CEO, added, “I am delighted with, and have the highest confidence in the breadth and depth of the management team we have assembled. Their highly relevant experience, as with Ian MacDonald, is an exceptional resource for C-MCC and assures its future growth and success.As the first of its kind free trade zone in the Western Hemisphere, the team will drive the success of C-MCC Worldwide, supporting businesses and communities through this unique, centralized and proven value proposition.”
Organizations participating in the long term lease signing, in addition to the C-MCC Development Group LLC and Curaçao Airport Holdings (CAH) included the following: Curaçao Airport Partners (CAP); Office of the Minister of Economic Development; Office of the Minister of Transport, Traffic and Urban Planning; StudioAcht Caribbean Architects B.V; KPMG Corporate Finance; Dutch Caribbean Securities Exchange (DCSX); (US) SMART Congressional Initiative; Van Eps Kunneman/VanDoorne; International Preparedness Associates (IPA) Security; Blue Nap Americas (Tier 4 Network access point data center); UTS.