DUBAI -- DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – and the Bharat Subcontinent Agri Foundation (BSAF) have signed a Memorandum of Understanding to advance the global agricultural (agri) commodities sector between the UAE and South Asia.

The agreement was signed by Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC; and Sudhakar Tomar, Chairman of BSAF, at the inaugural South Asia Agri Summit in Kathmandu, Nepal.

Targeting the growth of the global agri commodities sector and solidifying agri trade ties between the UAE and the South Asian subcontinent – which includes India, Pakistan, Bangladesh, Sri Lanka and Nepal – the MoU will see DMCC and BSAF partner in FoodTech and AgriTech projects, share prospective business opportunities and enhance knowledge transfer through exhibitions and conferences.

On the signing, Bin Sulayem said, “DMCC has a long-standing 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. The timing of this MoU with BSAF is strategically critical as trade has soared between the UAE and South Asia in recent years and will only grow further with the signing of new CEPA agreements and food trade corridors, including the recent UAE-India CEPA.”

Tomar, in turn, said, “We are delighted to partner with DMCC in building the next chapter of agri-food trade between South Asia and the UAE. This vibrant new partnership will provide crucial knowledge sharing in the wider efforts to grow South Asia’s connectivity and enhance food security at the regional and global levels.”