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Food Tech Valley, developed by wasl Asset Management Group, has partnered with Tradeling to strengthen the UAE’s food ecosystem.
At this time, food trade in the UAE exceeds AED100 billion ($27.23 billion) annually, while the agritech market is expected to grow from $13.5 billion to $22 billion in the next four years.
FoodTech Valley is a UAE government-led initiative announced in 2021 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to bring food Tripling production and positioning the country as a global destination for the industry, partnering with Tradeling, Mena’s electronic marketplace focused on B2B transactions.
self-sufficiency
The aim is to ensure that both parties and B2B buyers and sellers benefit, and to support the main objective of increasing the UAE’s self-sufficiency in food imports.
The agreement was signed at the wasl experience center by Ahmed AlShaibani, Project Leader, Food Tech Valley, and Marius Ciavola, CEO, Tradeling, in the presence of senior officials from both entities.
Several key objectives were agreed to ensure that Food Tech Valley realizes its potential to become an expert business hub for the food ecosystem industry. Tradeling’s platform will allow business users to access food and agtech products through easy payment solutions, logistics, warehousing solutions, and marketing and customer acquisition advantages.
B2B market
Food Tech Valley will build a B2B marketplace powered by Tradeling to help support, connect and match buyers from a variety of industries, including hospitality sellers sourcing local and international quality products and ingredients.
The partnership will enable a digital trade experience, supporting food producers by helping them expand their operations in the UAE. Trading will support local producers by accelerating their growth through the platform. Credit financing solutions will also be provided to selected eligible companies, including flexible payment options for SMEs and start-ups.
A spokesperson for Food Tech Valley said: “As a result of this partnership, we will enable local food producers to transact through a new section on the Food Tech Valley website, FTV B2B Market, covering the value chain and target market segments. , resulting in substantial growth and results. Our joint efforts will ultimately help strengthen the UAE’s food security programme, and we look forward to working closely with Tradeling to pioneer sustainable food production to reimagine the way the world produces and consumes food.”
sustainable future
Ciavola said: “The UAE has successfully diversified its economy and Food Tech Valley is another initiative that fits with the country’s plans to foster a more sustainable future. Trading is delighted to be part of this journey and we look forward to providing opportunities for B2B buyers and sellers , contributing to the progress of the nation. Since 2020, more than 200 million consumers have turned to online shopping, and through this partnership, we believe that together we can revolutionize the e-commerce and agritech ecosystems.”
Key goals include strengthening food security in the UAE, helping the country become self-sufficient, and further developing vertical farming and other advanced farming technologies, among other goals.
A Memorandum of Understanding between Trading and Food Tech Valley has been formed to help expedite the process and enhance the offerings of both organisations. As this strategic partnership moves forward, Tradeling will help strengthen Food Tech Valley’s market position while becoming the preferred online channel for its technology providers. — trade arab news agency
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