In the presence of Aboul Gheit and Sheikh Saif Bin Zayed Al Nahyan : Mahaseel Signs a Memorandum of Understanding to Establish the Arab Digital Food Hub

Mahaseel participated in the Asia Fruit Logistica 2023 exhibition, which was held in Hong Kong from September 6 to 8. It has been a great opportunity to forge valuable partnerships with trading partners while solidifying the company’s presence in the Asia-Pacific and Central Asian regions.

Within the framework of the implementation of the Joint Arab Vision for the Digital Economy launched by His Highness Sheikh Mohammed bin Zayed Al Nahyan, the President of the United Arab Emirates, Abu Dhabi witnessed the signing of a memorandum of understanding (MoU) to establish the digital “Arab Food Hub” in the presence of Mr. Ahmed Aboul Gheit, Secretary General of the League of Arab States, Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior of the United Arab Emirates, and Dr. Thani bin Ahmed Al Zewdi, Minister of State for Foreign Trade of the United Arab Emirates. Mahaseel was among fourteen public and private sector institutions, involved in the establishment of the Arab Digital Food Hub.

The MoU aims to create a digital “Arab Food Hub” that builds a broad alliance between government agencies, and the public, private, and technological sectors, creating a virtual marketplace to enhance the export capabilities of producers in different specialties and to find administrative and technological solutions for transactions related to export activities.

Dr. Mohamed Abdul Rahman, Mahaseel CEO, stated that the company has made it a top priority to develop the performance of agricultural production systems for farmers, exporters, and importers, utilizing digital solutions to support national economies among the Arab states. He also added, “we take pride in being the only private Egyptian company participating in the memorandum to support Arab food security, with full-fledged regional and international presence and a capacity to contribute to this important digital transformation initiative.”

Dr. Ali Al-Khouri, Advisor of the Arab Economic Unity Council League of Arab States and Chairman of the Arab Federation for Digital Economy, said the Arab region faces challenges, stimulated by the Arab economic situation threatening Arab social peace. He mentioned that in light of the coronavirus crisis, the Russian-Ukrainian war, and the climatic variables, the world today is facing spiking prices of materials and goods, an increasing inflation rate, deterioration of the value of local currencies, and a lack of food resources, all of which require joint action and collective solutions.

Dr. Ayman Ghoneim, Director of the Strategic Planning Sector at the Arab Federation for Digital Economy, added: “Through this initiative, the Arab Federation for Digital Economy eyes opportunities to increase the flow of food products between Arab countries to enhance Arab food security, enable Arab trade exchange, and achieve the Arab Free Trade Agreement.”

The Arab Food Hub is expected to take advantage of sophisticated digital platforms to connect exporters and importers, as well as all suppliers of supporting services, including logistics, storage, inspection, and finance, among others.

The implementation mechanism relies on blockchain technology, through which financial receivables can be transferred according to contracting agreements and guaranteed by the platform through an intermediary bank account that allows paying amounts under the completion of work and approvals on the system to move between digital wallets from importers to the source.