Global Dubai Tea Forum 2008 to reinforce Dubai's role as international tea hub

This announcement was made today by Dubai Tea Trading Centre (DTTC), an initiative of Dubai Multi Commodities Centre (DMCC), which expects over 35 tea consuming and producing nations to participate in the upcoming forum.

The 2nd Global Dubai Tea Forum 2008 will be held from February 19-20, 2008, at the Hyatt Regency, Dubai.

Dr. David Rutledge, Chief Executive Officer, DMCC, said:

"In under three years, DTTC has been a catalyst for the entire value-chain of the regional and global tea industry, and we are getting closer to our vision of establishing Dubai as the global gateway for tea. The increased volumes of tea trade passing through the ports of Dubai and several initiatives introduced for the industry at large are testament to DMCC's commitment to the trade. Equally important is establishing international standards and best practices through initiatives such as the Global Dubai Tea Forum."

He added that the overwhelming interest received from the leading tea producing and consuming countries for the upcoming forum signifies Dubai's fast-growing recognition in the global tea industry.

Sanjay Sethi, Head of DTTC, said: "With two months to the forum, we have already witnessed 20 per cent higher registration than the inaugural forum held in 2006, reflecting the growing relevance of such industry dialogues. At the 2008 forum, we look forward to an engaging discussion on several relevant topics, including ways to bridge production and supply imbalances, changes in consumptions patterns, new technical and logistical developments as well as lifestyle-related trends.

"The global tea trade is today somewhat fragmented, and we believe that that networking forums such as the Global Dubai Tea Forum will prove beneficial in fostering increased transactions among developed and emerging tea markets."

The DTTC has made a significant contribution to the establishment of Dubai as an international hub for tea trading. In 2006, DTTC facilitated the transaction of 4.3 million kilos of multi-origin teas, almost doubling the trade figures for the previous 10 months. In 2007, this figure is expected to grow to 5.5 million kilos. DTTC has also been instrumental in increasing the volume of tea trade physically cleared into Dubai, which rose from 96.6 million kilos in 2005 to 105.5 million kilos in 2006.

Since its inception in early 2005, the DTTC has expanded its range and reach to process teas from 13-producing countries, including Kenya, India, Sri Lanka, Indonesia, Malawi, Rwanda, Tanzania, Zimbabwe, Ethiopia, Vietnam, Nepal, China and Iran. In keeping with its mandate to further increase the tea trade in and through Dubai, the DTTC also presently facilitates sales to buyers in the GCC states, Iran, Iraq, Jordan and CIS countries, and has plans to expand its services to other markets.

The 2nd Global Dubai Tea Forum is organised by IBC Gulf Conferences and also offers exhibition space where tea industry firms will showcase their newest products and services.