I recently spoke to Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade and Founder of Tejari, during the company’s inauguration of its new office in Dubai Media City. Al Qasimi founded Tejari in 2000, a time when dot-com went boom and then bust.
“One of our biggest challenges was dealing with the dot.com bubble and so, for us, we focused on keeping our good business model. There was great support from HH Sheikh Mohammed Bin Rashid Al Maktoum to actually create the idea of online procurement for the government. It has created alot of savings, transparency and fairness in this area. In terms of the future, Tejari will work to improve the transparency of doing business online.”
Tejari’s main focus is its online trading platform for procurement and supply management. It has been noted as the first and largest business-to-business online marketplace in the region. Earlier this year, Tejari World unveiled BizTrumpet.com, a marketing platform specifically designed for SMEs looking to boost their online presence.
“Tejari has been a great success for a lot of the SMEs, Tejari was the ideal platform for them to come online and they can bid and many have won against larger companies in terms of the products they were selling. So, the idea is that the portal is the best champion for SMEs in terms of mobilising a lot of procurement. It gives them the ability to meet buyers online and tap into opportunities for them to bid without having to establish a major corporation to compete.”