Ras Al Khaimah Economic Zone (RAKEZ), signed a Memorandum of Understanding (MoU) with Tradeling, MENA’s dominant e-marketplace that focuses on business-to-business (B2B) transactions. The partnership aims to offer SME community members at RAKEZ further support and solutions in the areas of trade, supply chain, logistics, finance and market research needs.
The agreement was signed by Ramy Jallad, Group CEO of RAKEZ, and Marius Ciavola, CEO of Tradeling during a signing ceremony held at RAKEZ Compass Coworking Centre in Ras Al Khaimah. As part of the agreement, RAKEZ companies will enjoy free listing opportunities to promote and sell their products on Tradeling’s platform to its 200,000 registered users, access to global supply from brands, and manufacturers coming from over 55 countries, as well as digital engagement, and negotiation with multiple vendors and business buyers on the platform. Along with extended credit facilities, bank instalment options, fulfilment, and logistics services among many other.
Commenting on the partnership, Jallad said: “We are very happy to partner with Tradeling and introduce yet another value-added service to support the SMEs in our ecosystem. The partnership brings in opportunities for traders to access wider regional and international markets in just a few clicks, through Tradeling’s e-commerce services.”
“Close to 94% of the companies operating in the UAE are SMEs that contribute to more than 50% of the country’s GDP. Similarly, the majority of businesses at RAKEZ also fall under the SME category, and we are committed to enabling their growth journey in every possible way, while boosting the overall economy. We look forward to forging similar partnerships that support SMEs in the region, while consolidating RAKEZ’s position as a preferred destination for start-ups and emerging businesses,” he added.
Ciavola commented: “We are delighted and excited to have partnered with a reputable company such as RAKEZ. The aim of this collaboration is for both companies to work synergistically to enhance overall offerings and strengthen their position in the market while providing the best possible service to the overall customer base in the UAE. This will simultaneously allow Tradeling to further grow its buyer base by extending our services to RAKEZ and its community, allowing them to access credit finance solutions for selected and eligible companies, instalments, and payment solutions, as well as simplified e-procurement via access to global and local supply and continued supporting for the SME segment as a whole.”
“Supporting and helping SMEs in the region is a key metric that Tradeling has adopted since its inception in 2020. Led by a team of experienced technology start-up builders, the regional e-commerce giant is ensuring a reliable and smooth trade process in addition to providing logistics and financing solutions. Connecting global suppliers with MENA-based demand, the platform leverages advanced technology to optimise the supply chain and create economic value in addition to mitigating risks,” he added.