Halal Exchange set to make UAE the major hub for global Halal trade

Halal Exchange, a unique e-commerce platform aimed at facilitating global Halal trade, will make UAE the preferred hub of the $2.1 trillion-a-year* global Halal market.

United Arab Emirates: Wednesday, December 12 - 2007 at 13:37
PRESS RELEASE

Kombiz Eghdami, Chairman and CEO of Halal Exchange.

With UAE ideally positioned through its impressive infrastructure, telecommunication network and its growing significance as one of the largest re-export centres in the world, the Halal Exchange will facilitate the growth of Halal trade, both within the Middle East as well as globally.

Powered by vLinx, a web-based solution, which addresses the challenges of global sourcing, the Halal Exchange makes the costly and complex import-export process as simple as doing business across the street. The Exchange will provide a seamless business platform for the larger retailers and distributors as well as the small and medium-sized companies, which are currently responsible for nearly 80% of the global Halal transactions.

In his comments, Kombiz Eghdami, Chairman and CEO of Halal Exchange said:

'The underlying technology power of The Halal Exchange, combined with the advanced physical, financial and technical infrastructure in the UAE, are a formidable combination to neutralize the challenges to the growth of Halal trade - inherent inefficiencies and complexities in import and export. The Halal Exchange is designed to simplify the complex process of international trade.'

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Notes and media contacts

* Source: Malaysian Government estimates 2007

Pamela Pike, Vice-President Marketing said: 'The Halal Exchange utilizes the unique vLinx eCatalogue-Transaction Engine that allows buyers to not only browse supplier catalogues online, but to also communicate, negotiate, request samples and place orders using the Internet. It takes the users an average of 30 minutes to be up and running on the Exchange. The elimination of data re-keying and administrative inefficiencies coupled with increased visibility of the transaction for all related parties accelerates the trade cycle and increases profit margins for both buyers and suppliers.'

Headquartered in the UAE, the free of charge Halal Exchange™ is accessible to registered clients anywhere in the world. There is no need for investment in new hardware or software. All that is required is an Internet connection.

About Halal Exchange

Halal Exchange is a joint venture between vLinx Inc. and RAK Investment Authority under the patronage of His Highness Prince Saud bin Saqr Al Qasimi Crown Prince and Deputy Ruler of Ras Al Khaimah. vLinx is a web-based solution, which addresses the challenges of Global Sourcing. Founded in January 2002, the mission focused exclusively on developing the standard template for the complex, costly and convoluted import - export process.

The proprietary eCatalogue - Transaction Engine delivers immediate results by increasing business volume and higher profit margins. The platform is currently in use in 18 countries. vLinx has offices in Dubai, Vancouver, Shanghai and San Francisco.

For more information please contact:
Ashutosh Gupta
BPG Public Relations, Dubai, UAE
+971502834339

Posted by Anne-Birte Stensgaard, Senior News Editor
Wednesday, December 12 - 2007 at 13:37 UAE local time (GMT+4)

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