The Dubai Chamber of Commerce and Industry has signed a Memorandum of Understanding (MoU), with the Makkah Chamber of Commerce and Industry as a part of its initiative to promote the usage of e-commerce across the GCC, according to a statement from the chamber.

Following the launch of the Dubai Chamber’s collaboration with Chinese e-commerce giant Alibaba Group, the Dubai Chamber has been actively promoting the usage of e-commerce across the region, with this partnership with the KSA-based chamber being the latest in its strategic partnerships that will include access to a knowledge centre and free e-commerce customer service and International Chamber of Commerce (ICC) services through the e-commerce MENA region club and allotment of Certificate of Verified Membership.

Attending the signing of the MoU was Mr. Atiq Juma Nasib, senior vice-president of commercial services sector, Dubai Chamber, and Mr. Ibrahim Bardeshi, acting secretary-general for the Makkah Chamber in the presence of His Excellency, Maher Saleh Jamal, chairman of the Makkah Chamber.

The UAE, which is currently recognised as the largest e-commerce market is anticipated to trade USD $5.1 billion in 2015, roughly a third of the total transactions from the MENA region. Saudi Arabia, which is the second biggest e-commerce market is estimated to process USD $2.7 billion over the same period.

Alibaba.com, the China-based e-commerce platform currently has an estimated 40 million users around the world, hosting 2.8 million supplier storefronts. In 2014, the Dubai Chamber established a partnership with Alibaba.com, aiding to launch a MENA portal offering businesses the opportunity to develop trade relationships worldwide.