Online trading platform set to boost US-ME trade
US Export Council signs up to develop online trading platform with UAE-based company.
A specialist online trading platform is to be developed to boost trade between the Middle East and the US, it was announced on Sunday.
The platform will be hosted by Tejari, an online business to business marketplace for emerging markets, based in the UAE, and will be developed in collaboration with the US Export Council.
A Memorandum of Understanding over the move has been signed in the run up to the World CEO Forum in Dubai this week, which will host a group of high profile business leaders from the US, with a view to increasing trade between the two regions.
The UAE is the largest US export market in the Middle East and already makes sizeable foreign direct investments to the country, according to Omar Hijazi, CEO of Tejari.
The online platform would offer US businesses even greater exposure, he added
“The new trading portal will create a direct online bridge between the Middle East and the US, which will help US companies promote themselves to over 200,000 registered businesses, spanning 15 countries,” Hijazi said.
“They will have access to a trading floor where they can interact with potential buyers or sellers across the region 24-7,” he added.
David Altman, executive director of the US Export Council, said the move would be particularly useful for 250,000 small to medium manufacturers in the US when looking for new business opportunities.
"This agreement represents a powerful, practical and cost effective new opportunity to connect US companies that will generate export sales across the Middle East and the UAE,” he said.
The new online portal, www.usexportsonline.com, will be officially launched at the forum, which is taking place from Mar. 17 to 19.