DMCC inks MOU with CG Agrotech to advance agri commodities trade ties with South Asia
UAE- The Dubai Multi Commodities Centre (DMCC) has partnered with CG Agrotech, a leading agricultural commodities business in Nepal, to increase bilateral trade with South Asia in agri commodities.
As part of DMCC’s broader target of bolstering agri trade between the UAE and key markets across South Asia, the agreement seeks to create collaboration between DMCC’s business community and CG Agrotech and its partners, leading to increased trade, investment, and market access for DMCC member companies.
The strategic partnership will also see DMCC and CG Agrotech share knowledge and information related to addressable markets and new opportunities to further boost trade, especially in the coffee, tea, and honey sectors.
The Memorandum of Understanding (MoU) was signed by Feryal Ahmadi, Chief Operating Officer of DMCC, and Varun Chaudhary, Managing Director of Chaudhary Group & CG Agrotech.
Ahmadi commented that South Asia’s net agri commodities imports have risen significantly in recent years and this trajectory is projected to carry forward in the coming period.
Moreover, the critical global issue of food security, especially in the face of pandemics and other global calamities, is in the spotlight now more than ever, creating increased demand for agri commodities worldwide.
“Through a range of strategic partnerships such as this, DMCC looks to address these opportunities by further enhancing the efficiency and value provided by its agri trade ecosystem in Dubai, particularly for our 4,200-plus South Asian member companies,” he added.
Chaudhary, in turn, stated, “Partnering with DMCC marks the next step in the Nepal-UAE agri trade relationship, which continues to strengthen. Leveraging DMCC’s extensive network of 23,000-member companies and exploring mutually beneficial opportunities will significantly impact our ability to further enhance bilateral trade.”
Earlier in the year, DMCC signed an agreement with the Bharat Subcontinent Agri Foundation (BSAF), which will see the two entities partner in several FoodTech and AgriTech projects, again targeting increased bilateral agri trade.
During the signing, Ahmed Bin Sulayem, executive chairman and chief executive officer of DMCC remarked that the timing of this MoU with BSAF was strategically important as trade has soared between the UAE and South Asia in recent years and promised to continue soaring.
“DMCC has a longstanding and proud track record doing business with South Asia. Today, we are home to over 4,250 members from the region covering agri and many other sectors,” Sulayem commented.
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