01 March 2015
• Dubai is the largest market for e-commerce in the region

• AtiqNasib: E-commerce is the future of global trade and is in line with the directives of our leaders to promote the concept of smart trade

• USD 5.1 billion is the expected market value of e-commerce in the UAE by the end of 2015

Dubai - As part of its efforts to promote e-commerce amongst the Gulf Chambers, the Dubai Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) with Makkah Chamber of Commerce and Industry to support, facilitate and join its new e-commerce initiative, (www.dubaichamber.com/alibaba) launched by Dubai Chamber in collaboration with the Alibaba Group, China's leading global e-portal.

Under the new strategic partnership, the two sides agreed to enhance international trade by promoting e-commerce, and opening of new and promising markets for the members of MakkahChamber besides allowing them the benefits of the e-commerce platform which is unique in the region.

The benefits includeaccess to the knowledge centre and free e-commerce customer service and International Chamber of Commerce (ICC) services through the e-commerce MENA region club and allotment of Certificate of Verified Membership.

The MoU was signed by Mr.AtiqJumaNasib, Senior Vice-President Commercial Services Sector, Dubai Chamber, and Mr. Ibrahim Bardeshi,Acting Secretary-General, Makkah Chamber,in the presence of H.E. Maher Saleh Jamal, Chairman, Makkah Chamber.

Addressing the gathering after the signing of the MoU, Mr.Nasib said that gone are the days of traditional trading as the future belongs to e-commerce, adding that the concept of online trading has become a necessity in today's business scenario and under the guidance of the country's wise leadership to adopt the concept of smart business, Dubai Chamber has recently collaborated with the leading global e-portal alibaba.com to double the business prospects for the business community.

He lauded the role ofthe officials of Makkah Chamber in adopting the concept of smart business as well as their desire to benefit from the experiences of their counterparts in the region as this strategic partnership will serve the interests of the regional business community, he said while calling for a unified effort to achieve the growth and prosperity for Gulf businesses.

Mr.Nasib further stated that this latest agreement with Makkah Chamber is in line with the directives of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, to share knowledge and expertise with regional entities as he stressed that there will be more cooperation pacts in the areas of sustainable business practices and corporate social responsibility as Dubai Chamber is one of the leading organisations in the region to promote these concepts, he said.

In his introductory presentation on Dubai Chamber, Dr.BelaidRettab, Senior Director, Economic Research and Sustainable Business Development Sector, Dubai Chamber, pointed to the importance of e-commerce stating that the UAE is ranked as the largest e-commerce market in the GCC region as according to Dubai Chamber statistics based on "PayPal 2013" data, witnessing an increase of USD2.9 billion in 2012 and expectations of reaching to USD5.1 billion by the end of 2015.

He added that Saudi Arabia is the second largest e-commerce market after the UAE, as the Kingdom expects an increase from USD1 billion in 2012 to USD2.7 billion by the end of this year.

Dr.Rettab pointed out that by the end of this year the UAE will acquire a third of the total expected e-commerce market share ofUSD15 billion from the number of transactions in the Middle East and North Africa, adding that the electronic portal of Dubai Chamber has become an important window to stimulate the adoption of e-commerce in commercial activities.

On his part, the Secretary-General of Makkah Chamber expressed his desire to benefit from the services provided by the leading Alibaba.com e-commerce platform to its 45 million users from around the world showcasing 2.8 million supplier storefronts, as it has benefited Dubai Chamber in promoting its partnerships and bilateral economic ties with its global trading partners.

Bardeshi also lauded the cooperation with Dubai Chamber which he said has come in the wake of the signing of a MoU earlier in Dubai on exchanging of expertise and knowledge, information and training, as he emphasised on the continuation of this strategic partnership between the two sides while taking it to the highest level.

The portal has various tiers of membership including Verified Membership, as the Trustedmembers get an accredited digital certificate which confirms to customers, suppliers and vendors that the company has established a reputable name in the market. Uploaded on the company's e-profile, this certificate enhances the company's reputation, increases its exposure and visibility to quality buyers, which in turn will boost its sales growth and reduce transaction costs.

Alibaba.com is a leading global e-commerce platform used by 40 million users around the worldshowcasing 2.8 million supplier storefronts. Dubai Chamber has last year established a partnership with Alibaba.com to launch a MENA portal www.dubaichamber.com/alibabato offer businesses in the MENA region a unique opportunity to create new market prospects and to start connecting and selling their products and services to businesses worldwide.

-Ends-

About Dubai Chamber of Commerce & Industry
Established in 1965, Dubai Chamber of Commerce & Industry is celebrating its milestone anniversary of 50 years empowering vision in Dubai's business community. A non-profit public entity, Dubai Chamber supports Dubai's vision as a global player by empowering businesses, providing innovative value added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

For more information visit:www.dubaichamber.com

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For more information, please contact:
Ruba Abdel Halim
Dubai Chamber of Commerce & Industry
PR &Corporate Communications Department
Tel: +971 4 2028450
Email: ruba.halim@hotmail.com

© Press Release 2015