(MENAFN- Emirates News Agency (WAM))
DUBAI, 22nd October, 2018 (WAM) -- Jebel Ali Free Zone, Jafza, is participating in SIAL 2018 in Paris this week, where it will highlight its strengths as the destination of choice for the food and beverage, F & B, as well as agri-food industries.
DP World and Jafza are both participating in the five-day premier global F & B event, which started on 21st October, as a part of the Dubai Exports pavilion.
The UAE is the top pick for food exporters around the world, with the UAE Food Industry Report 2017 forecasting that food consumption in the Emirates would reach 59.2 million tonnes by 2021, from 48.1 tonnes in 2016.
Mohammed Al Muallem, Chief Executive Officer and Managing Director, DP World, UAE, said, "Our flagship Jebel Ali Free Zone has been the inspiration for Dubai's food industry for more than 35 years. Food is the second largest industry in the UAE and across the Gulf Cooperation Council. Jafza has served as the most efficient and best connected regional base for global brands consistently over the years, with F & B companies from Europe prominent among the food and agri-industry investors."
"Jafza's status as the destination of choice for Europe's F & B businesses continues to develop. The Middle East is among the fastest growing regions for the sector, which is poised to grow 6.3 per cent annually, from 2018 to 2022. We take this opportunity to invite international food, beverage and associated industries to visit Dubai and Jebel Ali and explore opportunities to grow their business across a region of more than 2.5 billion people."
Jafza is home to 505 F & B companies from 64 countries with more than 90 registered companies from Europe generating 151,000 metric tonnes of trade volume in 2017.
The European F & B sector occupies more than 300,000 square metres of warehousing and office space in the free zone, employing 1,490 people. Beverages, spirits, and vinegar are the most traded items making up 48 percent of the total trade, followed by cocoa and dairy products.
The foodstuff, livestock and agriculture industry is one of Jafza's top five performers, generating 3.5 million metric tonnes of trade valued at US$3 billion. Together they contribute 18 percent of Dubai's total trade by volume and 16 percent by value. The sector employs more than 6,550 people, almost five per cent of the total free zone workforce.
Rising disposable incomes, combined with contemporary consumption patterns, will drive industry growth, especially for food services and premium categories, according to recent forecasts by BMI Research. In addition, food sales in the UAE will increase at an annual average of 6.6 per cent between 2018 and 2022.
The outlook for the Middle East and North Africa region is a growth of 6.3 per cent during the same period.
WAM/ئ /Esraa Ismail/MOHD AAMIR
MENAFN2210201800610000ID1097603458
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.