The Hindu Business Line : Dubai co to develop online platform for tea trading

AHEAD of the Global Dubai Tea Forum during February 27-28, Tejari, West Asia's online market, announced on Tuesday a new partnership with Dubai Tea Trading Centre (DTTC) to support tea trading.

Under the terms of the agreement, Tejari will develop an online trading platform to facilitate international trade activities of DTTC, a subsidiary company of Dubai Metal and Commodities Centre (DMCC).

Delegates at the forthcoming Global Tea Forum will get the first look at the prototype of the new Tejari-based tea trading online forum, according to a statement published by the Emirates News Agency, WAM.

This international tea trading enterprise will eventually include a centrally located warehouse through which tea of various origins will pass.The enterprise will use Tejari to enhance its regional and global reach, opening up new markets and affirming Dubai's growing status as an international trade centre.

"Tejari has gained in-depth expertise in growing and maintaining regional online trading portals. The tea trade portal will provide DTTC with a user-friendly, Internet-based trading platform to all tea-related organisations to showcase their products and services, create trade leads to buy and sell, identify new partners in different countries and use the messaging capability to communicate with other companies," said Mr Omar Hijazi, Chief Executive Officer of Tejari.

"The creation of initiatives such as the DTTC tea trade portal is likely to increase the value and volume of tea traded in and through Dubai significantly," he added.

"This partnership with Tejari will highlight our tea storage, blending and trading capabilities to an international audience," said Mr Ahmed bin Sulayem, Chief Operating Officer, DMCC.

"Given that restrictions on a number of regional tea markets participating in international trade are likely to be lifted over the next few years, our agreement with Tejari is significant in providing Dubai with an early opportunity to substantially strengthen its role as a focal point for all future commercial activity in the tea sector," he concluded.

West Asia and adjacent regions account for approximately 25 per cent of global tea imports, according to industry insiders. DTTC's plans have already won the enthusiastic support of tea manufacturing participants from India, Sri Lanka and East Africa, the leading tea exporters.

The Tejari-enabled DTTC portal, which will only be accessible to its members, will facilitate the round-the-clock cataloguing, sample requesting, and purchase of tea stocks. It will put the buyer in direct contact with the plantation broker / trader and allow for a greater degree of transparency.