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Souq.com agreement to increase on-line business for Dubai Chamber members

Souq.com agreement to increase on-line business for Dubai Chamber members

Ronaldo Mouchawar, Co-Founder and CEO of Souq.com, and H.E. Hamad Buamim, President and CEO of Dubai Chamber, sign the agreement

-Agreement will provide Dubai Chamber members with exclusive benefits, training and customised support

– H.E. Buamim: Chamber will continue to establish new partnerships and initiatives to help businesses keep pace with region’s fast-changing e-commerce

– E-commerce activity seen to account for 10 per cent of Dubai’s total retail trade within the next few years

A memorandum of understanding (MoU) between Souq.com and the Dubai Chamber of Commerce will help members increase their on-line business.

Under the terms of the agreement, Dubai Chamber members can gain exclusive benefits offered by Souq.com, including free access to its ‘Fulfilled by SOUQ’ services for a three month period and dedicated on boarding training sessions.

Some of these include help with customer service and access to promotions from Souq.com, one of the largest online shopping websites in the Arab world.

Souq.com will promote Dubai Chamber’s ‘Trusted Member’ Label Scheme through existing seller programmes on the B2C platform, and collaborate with the Chamber on upcoming seminars and training programmes.

The signing ceremony was attended by H.E. Hamad Buamim, President and CEO of Dubai Chamber, and Ronaldo Mouchawar, Co-Founder and CEO of Souq.com, as well as other officials and top executives from the organisations.

H.E. Buamim said the MoU facilitates long-term cooperation between the two entities, and noted that it can serve as a foundation for future partnerships. He explained that the Chamber is keen to enhance the competitiveness of its members and business in Dubai within the e-commerce sector.

“We expect e-commerce activity to account for 10 per cent of Dubai’s total retail trade within the next few years. Rapid growth within this sector presents a lot of potential which can be maximised through strategic initiatives and partnerships that help businesses keep pace with the region’s fast-changing e-commerce,” said H.E. Buamim.

Ronaldo Mouchawar said: “At Souq.com, we focus on delivering a seamless shopping experience to our customers. Our pioneer initiative ‘Fulfilled by SOUQ’ (FBS), empowers sellers to overcome e-commerce barriers and use our robust infrastructure and technology to grow their business online. This partnership with Dubai Chamber will assist more SMEs and entrepreneurs in the region to get significant exposure with access to millions of local customers. In addition, the partnership will further boost customers’ confidence through the Dubai Chamber ‘Trusted Member’ Label Scheme.”

Global e-commerce is projected to reach $4.3 trillion by 2025, accounting for 19 per cent of total retail sales, according to analysis by Dubai Chamber based on recent studies conducted by Payfort and Business Monitor International.

GCC e-commerce is expected to reach $41.5 billion by 2020, and the UAE is expected to lead the region with a share of around 55 per cent, followed by Saudi Arabia (14 per cent), and Oman (12 per cent).
Souq.com attracts over 45 million visits per month, with localised operations in Saudi Arabia, UAE and Egypt.