His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the creation of Food Tech Valley in 2021. The initiative, which is being led by the UAE government, partners with Tradeling, the MENA region’s e-marketplace specializing in B2B transactions, and aims to triple the UAE’s food production. The main objective is to increase the UAE’s self-sufficiency in food imports, and the objective is to support this primary goal by ensuring a number of benefits for both parties and B2B buyers and sellers.
Senior representatives from both organizations were present when Ahmed AlShaibani, Project Lead at Food Tech Valley, and Marius Ciavola, Chief Executive Officer at Tradeling, signed the agreement at the wasl Experience Center.
To make sure that Food Tech Valley realizes its potential as a commercial centre for industry professionals in the food ecosystem, a number of important goals were established. Through simple payment methods, logistics, warehousing options, marketing advantages, and customer acquisition advantages, Tradeling’s platform will give business users access to food and agricultural technology items. To support, connect, and match buyers from many industries, including hospitality, which is home to F&B sellers that source high-quality local and foreign products and raw materials, Food Tech Valley will develop a B2B marketplace powered by Tradeling.
Through this partnership, a digitalized trading experience will be made possible, assisting food producers in growing their operations in the UAE. By fostering local producers’ expansion through the platform, Tradeling will aid local producers. Additionally, credit finance solutions with flexible payment options for SMEs and start-ups will be made available to a limited number of qualified businesses.
“It gives us tremendous pleasure to enter into this strategic partnership with Tradeling, the leading e-marketplace for MENA business buyers, to enhance our offering and solidify our commitment to help develop and transform the UAE into a global hub for clean, tech-based food and agricultural solutions,” a spokesperson for Food Tech Valley said. Through this partnership, we will make it possible for regional food producers to trade through a newly expanded area of Food Tech Valley’s website called FTV B2B Market, which covers the value chain and the intended market in order to achieve significant growth and results. The plans for the UAE’s food security will eventually benefit from our combined efforts, and we look forward to cooperating closely with Tradeling to pioneer sustainable food production and rethink how the world produces and consumes food.
According to Marius Ciavola, who commented on the agreement: “The UAE has been successfully diversifying away from its economy, and Food Tech Valley is another project that fits into the country’s objective to create a more sustainable future. Tradeling is honored to be a part of this endeavor, and we look forward to presenting B2B buyers and sellers with business possibilities that advance the nation. Since 2020, more than 200 million people have switched to online purchasing, and we hope that by working together, we can completely transform the e-commerce and AgriTech ecosystems.
Every year, the UAE’s food trade exceeds AED 100 billion, and over the next four years, the AgriTech sector is anticipated to increase from $13.5 billion to $22 billion. The main goals include enhancing the UAE’s food security, assisting the nation to become self-sufficient, and advancing the development of sophisticated agricultural technology such as vertical farming.
The MoU between Tradeling and Food Tech Valley was created to hasten this process and improve the offerings of both organizations. Tradeling will help improve Food Tech Valley’s market position as this strategic alliance develops, and it will also become the preferred online channel for its technology providers.
Image provided by the Dubai Media Office