AGRA Middle East closes deals worth USD 3.6 million

AGRA Middle East exhibition, the premier regional event for all aspects of the agribusiness industry, which concluded recently at the Dubai International Exhibition Centre (DIEC) recorded onsite trade deals worth US$ 3.6 million. With added commitment specifically from countries such as South Africa, Sudan, S.E. Asia, China, Korea, Bulgaria, Russia, Argentina and Brazil, show organiser IIR Middle East has confirmed that the event will grow by 75 per cent next year.

Michael Hanlon, Exhibition Manager for AGRA Middle East at IIR Middle East said, 'By fusing closely aligned industrial sectors, the exhibition facilitated the trading requirements of a broad range of industry stakeholders. Regional and international exhibitors networked with over 2,500 quality visitors representing the procurement muscle of one of the world's fastest growing consumer markets. I'm confident that the US$ 3.6 million worth of deals that were closed at the show will only be the tip of the iceberg. So much so we have reserved an additional 75 per cent of exhibition space for next year's event.'

More than 100 leading international agribusiness-related producers and suppliers from over 25 different countries were on show at AGRA Middle East including leading technologists Cargill and Alltech from US and Singapore's Zagro. Four distinct, yet closely linked sectors were drawn together to create one comprehensive industry platform. The event showcased the latest advances in Agriculture & Irrigation, Animal Husbandry & Poultry Farming, Floriculture & Horticulture plus Fisheries & Aquaculture.

'The show has opened doors for our industry. We struck multi-million dollar deals with investors and breeders from all over the Arabian Peninsula. We will definitely be back next year,' commented, Mohamed Bassal, Magnolia Homestead Alpacas, Lebanon.

The exhibition also highlighted the latest scientific developments in pest control, crop cultivation technologies & machinery, landscaping, irrigation systems, horticulture, fertilisers & agrochemicals. The 2007 edition of the AGRA also featured the latest scientific developments in laboratory processes and biotechnologies, during the free daily trade seminars, at which exhibitors from all sectors, presented their technological achievements at more than 20 interactive sessions covering all sectors during the three-day show. Investment in the GCC's agricultural industries is critical and helps to explain regional governments' plans to invest billions into the sector over the next five years.

'AGRA Middle East recognises the economic benefits of an invigorated regional agriculture sector and aims not only encourage growth but more directly to help offset the US$ 20 billion worth of food imports that industry analysts estimate the GCC will be paying by 2015 if local demands are not met domestically. Regional agri-initiatives are vital if the Middle East is to make in-roads towards self-sufficiency,' added Hanlon.

These initiatives were clearly evident with the participation of the Arab Authority for Agricultural Investment and development (AAAID).

Ahmed Shaker, Head of Exhibitions Unit, said, 'The aim of our participation was to raise awareness of the vast amount of investment opportunities available to Arab investors. Since 1980, the AAAID has helped to establish over 30 joint ventures contributing US$ 278 million in capital, which have an ROI of 91 per cent on average.'