• Business

DMCC Forges Agri Commodities Trade Ties with South Asia through Partnership with CG Agrotech

by Swati Gupta

July 20, 2023 23

Dubai, 20th July 2023 (WAM) – DMCC has taken a significant step towards advancing agricultural commodities trade with South Asia by partnering with CG Agrotech, a leading agricultural commodities business in Nepal. This strategic collaboration aims to bolster bilateral trade between the UAE and key markets across South Asia in the agri commodities sector.

As part of DMCC’s broader mission to strengthen agri trade ties with South Asia, the partnership with CG Agrotech aims to facilitate collaboration between DMCC’s thriving business community and CG Agrotech, ultimately leading to increased trade, investment, and market access for DMCC member companies.

The memorandum of understanding (MoU) signed between DMCC’s Chief Operating Officer, Feryal Ahmadi, and Varun Chaudhary, Managing Director of Chaudhary Group & CG Agrotech, highlights the commitment of both entities to foster growth and development in the agri commodities trade sector.

One of the key objectives of the partnership is to share knowledge and information related to addressable markets and new opportunities, with a special focus on the coffee, tea, and honey sectors. By tapping into each other’s expertise, DMCC and CG Agrotech aim to optimize trade and explore new avenues for growth in these high-demand commodities.

The rise in South Asia’s net agri commodities imports in recent years and the increasing global concern over food security have created significant opportunities for agri commodities trade. DMCC recognizes the potential in addressing these opportunities and enhancing the efficiency and value of its agri trade ecosystem in Dubai for its 4,200-plus South Asian member companies.

Chief Operating Officer of DMCC, Feryal Ahmadi, stated, “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, particularly for our 4,200-plus South Asian member companies.”

Varun Chaudhary, Managing Director of Chaudhary Group & CG Agrotech, expressed his enthusiasm about the partnership, emphasizing that it marks the next step in the Nepal-UAE agri trade relationship, which has been strengthening over the years. By leveraging DMCC’s extensive network of 23,000-member companies, both entities aim to explore mutually beneficial opportunities that will significantly impact their ability to enhance bilateral trade.

This recent partnership with CG Agrotech comes on the heels of DMCC’s agreement with the Bharat Subcontinent Agri Foundation (BSAF), signed earlier in the year. The collaboration with BSAF focused on several FoodTech and AgriTech projects, with the shared goal of boosting bilateral agri trade.

DMCC’s commitment to developing robust trade ties in the agri commodities sector with South Asia underscores its position as a leading global trade hub. By fostering partnerships with key players like CG Agrotech and BSAF, DMCC continues to pave the way for increased trade and investment opportunities in the region, contributing to the growth and prosperity of the agri commodities industry.