Gautam Sashittal, Chief Executive Officer, DMCC, said:

“With 90 percent of the Region’s food requirements being imported, access to trade finance is critical and topic that is priority for DMCC’s Food Trade Group.  Our collaboration with Maersk marks a significant milestone for market participants, as it not only minimises risk but also acts as a catalyst for growth by providing access to secure trade finance further up, and across the value chain, as well as shipping mechanisms.”

Sinan Ozcan, Maersk Trade Finance, UAE, said:

“Access to trade finance is one of the biggest obstacles in global trade and as Maersk we have noticed this gap in the market and created a product that can meet our client’s needs. Maersk Trade Finance combines the flow of goods and finances supporting the businesses who import and export globally. We have established a Maersk Trade Finance entity (Sunrise 15 Middle East Ltd) in the DIFC, regulated by the DFSA, in July 2017. Together with DMCC we look forward to support the growth of local businesses and contribute in ambitions of the UAE government reaching the Vision 2020 targets”.

Regulated by the Dubai Financial Services Authority (DFSA), Maersk Trade Finance offers access to working capital when you need it and simplicity through an end to end digital solution for the industry, much in line with DMCC’s mandate to enhance the global flow of all commodities

“Food security has emerged as a growing concern in many parts of the world, with a rapidly growing population, development challenges and climate change, our Food Trade Group will continue to address this to help build a sustainable future of trade for all”, concluded Sanjeev Dutta, Executive Director, Commodities, DMCC.

For further information on ‘Maersk Trade Finance’ visit https://fs.maerskline.com.

DMCC also published a report on the global flow of agri commodities and food security ‘Sustainable Food Supply: The Key to Feeding the World’ available here: http://bit.ly/2rUmJob.