Dubai Multi Commodities Centre (DMCC) has partnered with CG Agrotech, a leading agricultural (agri) commodities business in Nepal, to increase bilateral trade with South Asia in the agri-commodities space.
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 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 Ms. Feryal Ahmadi, Chief Operating Officer of DMCC, and Mr. Varun Chaudhary, Managing Director of Chaudhary Group & CG Agrotech.
Feryal Ahmadi COO – DMCC
“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. Simultaneously, the critical global issue of food security is in the spotlight now more than ever, creating increased demand for agri commodities across the world. 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, and in particular for our 4,200-plus South Asian member companies.”
Mr. Chaudhary said that “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.”
DMCC has a longstanding history of driving agri trade between South Asia and the UAE. With growing awareness of global food security issues and the accompanying opportunities this presents, agri goods occupy an increasingly strategic role in DMCC’s commodities mix, which encompasses tea, coffee, soya, sugar, spices and many other agri commodities. Earlier in the year, DMCC signed an agreement with the Bharat Subcontinent Agri Foundation (BSAF), which will see the two entities partner in a number of FoodTech and AgriTech projects, again targeting increased bilateral agri trade.
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