The Dubai Export Development Corporation (EDC) is exploring further export opportunities for Dubai’s food sector not only in the GCC region, but in the South Asian markets as well.

On the sidelines of the ongoing 14th Gulfood Exhibition (February 23 – 26), EDC organised a business networking forum between the South Asian buyers and various food companies in Dubai. The forum, entitled “Meet Buyers and Win Export Business to South Asia”, facilitated a wider discussion with EDC, Export Credit Insurance Company of the Emirates and the Dubai Municipality-Food Section along with Dubai’s exporters and buyers.

According to EDC’s Dubai Food Sector Capabilities report, exports of Dubai’s prepared foodstuffs products have increased to 6.5 per cent in 2008, resulting into Dh3 billion ($815 million) as compared to Dh2.8 billion in 2007.

The current estimated output value of Dubai’s food sector is Dh4 billion where 70 per cent of production is being exported.

“Among the corporation’s responsibilities is to create opportunities for Dubai companies to expand and promote their products in the fastest growing regions,” said Engineer Saed Al Awadi, chief executive officer, EDC.  “With Dubai’s food industry currently producing a wide gamut of food items totalling to more than 135 products, this sector has the potential to better expand its reach in different regions around the world.”

“India’s food and beverage sector is growing at nine per cent while organised retail sales are growing at 30 per cent to 35 per cent per annum. Food producers and traders in Dubai are well placed to develop their business in both the GCC and the South Asian markets including India, Bangladesh, Pakistan and Sri Lanka,” he added.

The same food products being produced in Dubai are prepared meats, dry and prepared vegetables, dairy products, juices, seafood, oil products, waters, sweets and fruit concentrates among others.

As per EDC’s Dubai Food Sector Capabilities report, exports of animal and vegetables fats and oils products in 2008 increased by 60.9 per cent, amounting to Dh482.7 million from Dh300 million in 2007.

Exports of vegetable products were valued at Dh219.8 million, a 35.67 per cent increase from Dh162 million in 2007. Meanwhile, from January to September 2008, exports of Sugar and Confectionery products were worth Dh986.7 million.

The attendees learned various export opportunities across the region and the export credit insurance available for Dubai exporters from EDC. – TradeArabia News Service