Tejari enters China

Speaking at the Qingdao ASEM Forum which took place from October 28th to the 31st, Tejari CEO Omar Hijazi defined the move as creating a direct online bridge between the Middle East and China to automate business to business transactions.

¡°Our focus on China is in response to our customer demands to seek out new sources of supply. For our Middle East and global buyers, our venture will now provide a direct link to the world¡¯s factory,¡± continued Hijazi.

"Tejari China, to be launched in December 2007, will spur the largest online trading platform between the Middle East and China. China trade with the UAE alone is expected to reach $19bn in 2007 and Tejari will help boost these figures even further in 2008," he added.

During the event, a signing ceremony was conducted to celebrate a cooperation agreement between Tejari and the City of Qingdao. In collaboration with BOFTEC, the Bureau of Foreign Trade and Economic Cooperation of Qingdao, Tejari will offer its technology and e-procurement services to the city¡¯s suppliers to take advantage of the benefits of conducting business electronically. The initiative, in its first year alone, is expected to onboard 800 Chinese suppliers to the Tejari marketplace with over $50m U.S. Dollars in trade.

Tejari has now become the third Dubai World company, in addition to DP World and Limitless, to announce new ventures in the Chinese city of Qingdao.

Tejari also hosted a special seminar at the ASEM Forum attended by over 100 suppliers to promote deeper trading relations between the UAE and China. The seminar, staged as a working session, allowed Chinese suppliers to interact directly with the heads of procurement of the Dubai Government to understand how to better compete in today¡¯s Middle East market. The Government officials equally had the opportunity to analyze the China market more closely, identifying new supplier sources and valuable trade contacts.

The ten member delegation attending the forum included procurement leaders Mr Saeed AL Qaizi, Director ¨C Group Procurement, Contracts and General Admin ¨C Dubai World; Mr. K.Kumar ¨C Support &Contracts Manager ¨C Dubai World; Mr. Tareq Al Khaja ¨C Head of Purchasing£¬ Dubai Municipality£» Mr. Adel Khoory ¨C Senior General Manager Contracts & Purchasing, Dubai Civil Aviation; Mr. Mohammed Juma, Director of Purchasing & Contracts ¨C Health Department, Dubai; Mr. Ahmed Sharif, Manager ¨C Purchasing, Roads and Transport Authority; Mr. Saeed Mubarak, Manager ¨C Purchasing, Dubai Silicon Oasis; Mr. Ishaq Al Bastaki ¨C Head of Purchasing & Stores, Dubai Airport Free Zone Authority; Mr. Adel Kalantar ¨C Director Corporate Support; Dubai Airport Free Zone Authority; Mr. Khalid Al Sheikh; Assistant Director General ¨C Finance & Admin, Health Department, Dubai.

The initial soft launch phase into China will centre on building awareness for the brand name of Tejari China, or 'Te Jia Ye' ¨C outlining the advantages of the online marketplace for companies that wish to do business via the Internet with organizations in the Middle East and the broader region.

"B2B marketplaces in China have traditionally focused on online marketing. Tejari¡¯s transactional platform will introduce the next generation of e-procurement to China allowing local suppliers to bid directly on billions of dollars worth of tenders and auctions. With our fresh brand 'Te Jia Ye' meaning wonderfully beneficial deal; we aim to fulfill this brand promise to our buyers and suppliers engaged in China trade,"

Hijazi continued.

Tejari's offices in China will be operational from late December 2007, when the company goes live with its China marketplace.