Dubai Chamber signs MoU with MCCI to facilitate e-commerce

Updated 01 March 2015
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Dubai Chamber signs MoU with MCCI to facilitate e-commerce

As part of its efforts to promote e-commerce among the Gulf chambers, the Dubai Chamber of Commerce and Industry (Dubai Chamber) signed a memorandum of understanding (MoU) with Makkah Chamber of Commerce and Industry (MCCI). The MoU is meant to support, facilitate and join the new e-commerce initiative launched by Dubai Chamber in collaboration with the Alibaba Group, China's major global e-portal.
Under the new partnership, the two sides agreed to enhance international trade by promoting e-commerce, and opening of new and promising markets for the MCCI members besides allowing them the benefits of the e-commerce platform, which is unique in the region.
The benefits include access to the knowledge center and free e-commerce customer service and International Chamber of Commerce (ICC) services through the e-commerce MENA region club and allotment of certificate of verified membership.
The MoU was signed by Atiq Juma Nasib, SVP, commercial services sector, Dubai Chamber, and Ibrahim Bardeshi, acting secretary general, MCCI, in the presence of Maher Saleh Jamal, chairman, MCCI.
Addressing the gathering after the signing of the MoU, Nasib said that gone are the days of traditional trading as the future belongs to e-commerce, adding that the concept of online trading has become a necessity in today’s business scenario and under the guidance of the country’s wise leadership to adopt the concept of smart business, Dubai Chamber recently collaborated with the major global e-portal alibaba.com to double the business prospects for the business community.
He lauded the role of the officials of MCCI in adopting the concept of smart business as well as their desire to benefit from the experiences of their counterparts in the region as this partnership will serve the interests of the regional business community. He called for a unified effort to achieve the growth and prosperity for Gulf businesses.
Nasib further stated that this latest agreement with MCCI is in line with the directives of Sheikh Mohammed bin Rashid Al-Maktoum, UAE VP and PM and ruler of Dubai, to share knowledge and expertise with regional entities as he stressed that there will be more cooperation pacts in the areas of sustainable business practices and CSR as Dubai Chamber is one of the major organizations in the region to promote these concepts.
Belaid Rettab, senior director, economic research and sustainable business development sector, Dubai Chamber stressed the importance of e-commerce and said the UAE is ranked as the largest e-commerce market in the GCC region as, according to Dubai Chamber statistics based on PayPal 2013 data, there was an increase of $2.9 billion in 2012.
He added that Saudi Arabia is the second largest e-commerce market after the UAE, as the Kingdom expects an increase from $1 billion in 2012 to $2.7 billion by the end of this year.
Bardeshi said the cooperation with Dubai Chamber has come in the wake of the signing of a MoU earlier in Dubai on exchange of expertise and knowledge, information and training.


South Korea: Japan dispute to hit global technology companies

Updated 17 July 2019
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South Korea: Japan dispute to hit global technology companies

  • Japan’s steps are inconsistent with World Trade Organization principles, South Korean government source says

SEOUL: Export curbs Japan imposed in its dispute with South Korea will adversely affect global technology companies and hurt the operations of tech giant Samsung in the Texas state capital of Austin, a South Korean government source said on Wednesday.
Japan’s steps are inconsistent with World Trade Organization principles, but South Korea wants to resolve the dispute through dialogue, the source told reporters in Seoul, speaking on the condition of anonymity in order to discuss negotiations.
If Japan goes so far as to drop South Korea from its “white list” of countries with minimum trade restrictions, it would cause a “tremendous amount of problems,” the source added.