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•Organises networking breakfast on the side-lines of Gulfood 2015
•Calls for strengthening partnerships between local and global businesses in the food sector
Dubai - To highlight Dubai's food and beverage industry and the emirate's status as a major food importer and re-exporter to visiting international delegates of Gulfood 2015 exhibition, the Dubai Chamber of Commerce and Industry hosted Gulfood Connect networking breakfast at the Chamber premises on Monday.
The business matching session, which was attended by over 100 visiting delegates and members of the Food and Beverage Business, the Foodstuffs Trading and the Fruits and Vegetables Trading business groups operating under the umbrella of the Chamber, discussed various ways of strengthening mutual cooperation in the food and beverage industry and how to benefit from Dubai's strategic location in the import and export of food products.
In his welcome address, Hassan Al Hashemi, Vice-President, International Relations, Dubai Chamber, stated that these business matching meetings provide an ideal platform for the Chamber members and representatives of the food industry to connect and share experiences and develop new partnerships with regional and international companies operating in the food and beverage sector, while enhancing Dubai's position as an international business hub.
Al Hashemi pointed out that the factors supporting the growth of the food and beverage sector in Dubai include the emirate's food security strategy, its strategic location as a global business hub, and its thriving tourism sector which leads to an increased demand in food consumption by the tourists.
He also stressed on other factors leading to the growth of the sector which he said is caused by the consumption habits of the population as well as the growth of the Islamic economy with demand for halal products in addition to Dubai's hosting of Expo 2020.
Al Hashemi also informed about the UAE's reliance on food imports which amounts to more than 80% of its food needs thus raising the prospects for the growth of the food sector, especially in light of the expectations of a compound annual growth rate of 8% in spending on food and beverages in the UAE during the period 2012 to 2018, according to statistics based on Euromonitor findings.
He also pointed out at the expected compound annual growth rate of per capita consumption of fresh food in the emirate amounting to 5.5% during the period 2012-2018, which he said indicates a promising future for the sector, and calls for cooperation between all stakeholders to benefit from the growth opportunities offered by the sector.
Al Hashemi also stressed on Dubai's status as the region's major re-exporting hub, supported by strong logistics and well-established transportation routes as well as the emirate's strong potential to develop its position as a leading halal food hub, in line with its vision to become 'Capital of Islamic Economy', which will go a long way in supporting the growth of the food and beverage sector, he added.
A Dubai Chamber presentation highlighted the status of the food industry in the UAE stating that fruits and vegetables occupied 55% of the total fresh food market with an expectation of 7% compound annual growth rate of fresh food products during the period 2014-2018 while soft drinks topped by demand for coffee accounted for more than 80% of the beverage market in the UAE, with a forecast CAGR rate of up to 8% during the period 2012-2018, according to BMI and Euromonitor data.
The presentation also revealed the value of the UAE international trade in food and beverages which totalled USD20.7 billion imports, and exports amounted to USD13.4 billion during the year 2013, while Dubai's imports of food and beverages during the year 2013 amounted to USD12.3 billion, and exports and re-exports clocked USD7.4 billion.
On his part, Omar Khan, Director, International Offices, Dubai Chamber, gave an overview of Dubai's economic growth prospects coming on the back of the emirate's pillars of economic drivers including trade, tourism, logistics and financial services, as he also highlighted the value-added services provided to the business community for setting up business in the emirate.
The 20th edition of Gulfood 2015 is the biggest edition in the show's history and is expected to attract more than 4,800 international companies from 120 countries and more than 85,000 visitors from over 170 countries.
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About Dubai Chamber of Commerce & Industry
Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose 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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© Press Release 2015
