12 - 14 Dec 2018

UAE, China to build wholesale market for agricultural products

The UAE and China signed two memorandums of understanding to strengthen agricultural cooperation and jointly build a wholesale market for agricultural, livestock and fishery products.

The UAE's Ministry of Climate Change and Environment and China's Ministry of Agriculture and Rural Affairs signed the agreements during the recent China Week.

As part of the agreement, the two countries will look to strengthen cooperation in modern agriculture, such as hydroponics and organic agriculture, apply modern agricultural techniques, especially in irrigation and in using treated water for agriculture.

They will also collaborate in the exchange of expertise, science and technology in the fields of pest control, agriculture in saline areas and food security and diversity.

Agricultural wholesale market

The two countries will also jointly build a wholesale market for agricultural, livestock and fishery products in the UAE, which they said will ensure food safety, reduce spoilage, increase revenue, and stabilise food prices in the region.

The operation of the wholesale market will see businesses operating there becoming the principal stakeholders and the governments playing a guiding role. Chinese businesses will establish the wholesale market as per the standards and specifications permitted in the UAE and will be tasked with its management and operations.

"Such collaborations are projected to introduce innovative solutions to food security challenges, and significantly contribute to enhancing China-UAE bilateral agricultural cooperation through the development of agriculture, livestock and fisheries sectors in the UAE," said Dr. Al-Zeyoudi, Minister of Climate Change and Environment.

China’s Ministry of Agriculture and Rural Affairs said it will encourage Chinese businesses to invest in developing the wholesale market and invite businesses from the UAE and other major countries engaged in the Belt and Road initiative to participate.

Both agreements come into effect immediately and remain valid for a period of five years.

Source: Arabian Business/By Staff Writer

Published: 07/22/18