Tejari advances 'e-Silk Road' vision with the Government of Qingdao, China

Reviving the historical trade route between the two regions, this deal will see the recently launched Tejari China (Te Jia Yi) create a customized one-stop B2B procurement platform for the Bureau of Foreign Trade and Economic Cooperation of Qingdao (BOFTEC).

This is a landmark step in BOFTEC's mission to grow commercial links with the Middle East and conduct one-half of its $1bn trade with the UAE online by 2013.

More than 800 Chinese suppliers are expected to register with the bi-lingual Tejari marketplace this year alone, providing a simple and transparent platform that is forecast to generate over $50m in trade for Qingdao's economy by the end of the 2008.

The announcement builds on Tejari's attendance at this month's high-profile trade delegation from the UAE to China, led by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE, and Ruler of Dubai, at which Tejari launched its ambitious growth plans for Tejari China.

Working with BOFTEC, this agreement sees Tejari offer its proven e-procurement technology and consultancy expertise to Qingdao's suppliers, enabling them to take advantage of the benefits of conducting business electronically. Tejari will also offer a tailored 'e-readiness program' that will encourage qingdaochina.com's members to complete e-readiness training and grow business through the online trading platform.

The agreement with the City of Qingdao follows signing of a partnership with ShanghaiMart to strengthen links for China's textile trade industry with the Middle East.

With Qingdao boasting prominence as one of China's leading electronics centres, and home to many of the country's largest electronics corporations, these agreements will advance the 'e-Silk Road' vision and help trade relations between the regions to flourish in both industries.

CEO of Tejari, Omar Hijazi said: "We have a clear vision for restoring the former glory and success of the traditional trading route between China and the Middle East through a new 'e-Silk Road'. The City of Qingdao has over 9,000 enterprises that are involved in import and export, which highlights the tremendous potential that lies in developing effective procurement links. Tejari's electronic marketplace will provide direct access to the largest buyer network in the Middle East, and Qingdao's businesses will benefit from our matchmaking and transactional services that are designed to enhance trade and boost buyer and seller interaction."

Mr. Wu Jingian Vice-Mayor of City of Qingdao added: "As one of the major gateways for China to the world, The City of Qingdao is keen to embrace new technologies and lead the way in initiatives that develop trading links for our businesses. Working with Tejari means that members will benefit from direct and transparent access to the vast and diverse marketplace of the Middle East, and will also benefit from Tejari's expertise in e-procurement. Online commerce is central to Qingdao's ambitions and it is through our partnership with Tejari that we will achieve our goals".

Hijazi added "Qingdao is working with Tejari as a pilot 'e-trading city' that will provide a model for rest of China's industrial cities, boosting bilateral trade and efficiency between our two regions. By bringing advanced e-commerce technologies to this emerging marketplace Tejari enables buyers and sellers to transcend trade barriers, increase transparency and lower transaction costs - all of which emphasize the company's position as the future of commerce".

This announcement follows Tejari's recent participation in the high-profile trade UAE-China trade delegation, led by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister and Vice President of the UAE, and Ruler of Dubai.

Within the forum, high-level Emirati and Chinese officials witnessed two strategic cooperation agreements between Tejari and its Chinese business partners to advance the 'e-Silk Road' vision. Tejari also unveiled its export promotion packages for Chinese suppliers and plans for a series of ten offices to be opened in the country throughout upcoming months. The company announced ambitious growth plans that will bring onboard 100,000 Chinese companies by the end of 2008.

Tejari, which was launched by the Government of Dubai, is one of the most successful units of Dubai World, a holding company responsible for much of the Emirate of Dubai's phenomenal economic growth.

Tejari's innovative online trading portal and training programs help to facilitate trade between companies and geographies across the globe and to develop electronic commerce skills of business throughout the emerging markets. Tejari is committed to not leaving any company behind as the business world is transformed by electronic commerce.