Tradeling signs MoU with UK Department of International Trade

10x Industry

Mita Srinivasan
10x Industry
Published:

Tradeling signs MoU with UK Department of International Trade

New understanding to help businesses tap into the £12.0 billion trade between the two countries. UAE was the UK’s 23rd largest trading partner accounting for 1.0 percent of total UK trade.

Tradeling, the e-marketplace focused on business-to-business (B2B) transactions in the Middle East & North Africa (MENA) region has signed a Memorandum of Understanding (MoU) with the Department of International Trade (DIT) to further enable cross-border trade between UAE and the UK. The collaboration will create an increased visibility of the digital platform among a larger cross-section of business enterprises in the UK and the UAE, strong networking opportunities and global sourcing of products and services that will lend more dynamism to the regional B2B digital ecosystem.

According to a report, as of 1 December 2021, total trade in goods and services (exports and imports) between the UK and UAE was valued at £12.0 billion to the end of Q2 2021, of which UK exports to UAE amounted to £8.2 billion. UAE was the UK’s 23rd largest trading partner accounting for 1.0 percent of total UK trade.

Tradeling will foster business ties between UK sellers and MENA based buyers to help DIT’s members engage effectively reach a wider base of buyers in the region. The B2B platform is focused on opening new opportunities for businesses in the region to scale up their geographic reach and explore potential partnerships with UK based enterprises.

UK Minister for Exports, Mike Freer MP, said: “This agreement means that UK companies can more effectively access markets, increase trade and build strong business relationships in key areas, all facilitated by support that my department provides, both in the UK and overseas. The Gulf region is a priority market for us, having kicked off FTA preparations with the Gulf Cooperation Council with a business consultation period in October. A trade agreement with the bloc is a huge opportunity to liberalise trade with a growing market for British business, and to deepen ties with a region that is vital to our strategic interests”

Tradeling ensures a reliable and smooth trade process in addition to providing logistics and financing solutions. Connecting global suppliers with MENA-based demand, the platform leverages advanced technology to optimize the supply chain and creates economic value in addition to mitigating risks. Today, Tradeling has over 100,000 registered buyers and sellers from over 55 countries.