Tejari and Coface Egypt join forces to boost trade for Egypt's agrifood industry

Coface Egypt is the newest regional branch of French multinational B2B trade finance and insurance group, Coface, and joins with its B2B search engine division, Kompass, and Tejari to deliver this new online trading environment.

The agrifood business channel will be a sector specific community portal providing the much needed 'supply chain' connection between Small and Medium-sized Enterprises (SMEs) and buyers across the world.

Designed as a 'one-stop-shop' for the Agrifood industry, which includes all business across Egypt's agricultural food supply chain, the online portal will facilitate an affordable and innovative trading platform, opening trade barriers for a vast range of business operating in the region.

"The agrifood industry represents more than 50% of the Egyptian economy with total trade equal to $1.5bn Our partnership signifies a significant step in boosting trade for this industry in Egypt with this new, powerful transaction platform providing agrifood buyers with direct access to sellers across global emerging markets. Egypt's agrifood sellers will also benefit from being able to tap into the largest online buyer network in the Middle East"

said Omar Hijazi, Tejari CEO.

"We anticipate that this innovative marketplace will attract up to one hundred and fifty thousand entities operating within the agrifood industry throughout Egypt. Tejari looks forward to building a successful trading community portal for Agrifood with Coface Egypt, which will significantly boost trade for the industry, as well as enhance the global e-readiness ranking of Egypt as a whole" Hijazi added,

In addition to providing direct contact to global buyers via the online transactional platform, members of this exclusive community will have access to a comprehensive database of Agrifood supply chain operators, a knowledge centre providing direct links to all relevant Agrifood knowledge, news and information required for SMEs operating within the agrifood sector.

Mrs. J.Dorra Fiani, Coface Egypt CEO said: "We are aiming to facilitate more trade and develop the Agrifood industry in Egypt by using new technology. Agrifood is the fastest growing segment and the main export resource of Egypt but has so far lagged behind in its use of the country's rising internet capability.".

Agrifood members will also be able to participate in Tejari's e-readiness training programs enabling them to receive certification and the e-Ready mark, demonstrating that the company and individuals have been trained and certified by Tejari, to conduct business transactions online.

Tejari, the leading online B2B marketplace for emerging markets and launched by the Government of Dubai, is a perfect example of the innovative spirit of Dubai. The company is one of the most successful units of Dubai World, a holding company that is responsible for much of the emirate's phenomenal economic growth.

Coface Egypt is operated by Kompass International, the world leading B2B network, now controlled by Coface Group. The company founded by Mrs. J. Dorra Fiani under the name of Fiani & Partners Kompass Egypt, was pioneered in 1986 in the area of business and financial information and services, establishing a leadership position in the Egyptian market together with several programs in the region, which will now be expanded by Coface Egypt under her management.

Coface Egypt programmes in 2008/2009 are; worldwide credit information and rating online and offline, Middle East regional production business and credit information platform and Middle East regional production receivables management platform.

This powerful combination will have a direct and lasting impact on the economic development of the agrifood industry, the SME's who make up the bulk of businesses, as well as on the Egyptian economy as whole.