What can SMEs expect to gain from Expo 2020 Dubai's new Online Marketplace?

This week in Dubai, Expo 2020, “a global destination for millions of people to share ideas, showcase innovation, encourage collaboration and celebrate human ingenuity”, according to The National UAE, unveiled its global online marketplace (OMP). According to a report by Trade Arabia, the OMP is a free-to-use platform designed to “create a long-lasting economic impact by supporting companies of all sizes, especially small and medium-sized enterprises”.   

The platform enables users to showcase their products, ideas and available services to Expo 2020 participants, as well as other registered businesses, according to the report.

Small and medium-sized enterprises will be able to promote their supply chain management and procurement elements “in both new and established markets by posting tender opportunities, which are visible to vendors and suppliers worldwide”.

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Richard McGuire, vice president of procurement, Expo 2020 Dubai, said in a statement: “through the OMP, we aim to encourage innovation and drive global economic progress by helping companies to connect, collaborate and expand their operations, while creating one of the largest networks of this kind in the Middle East, Africa and South Asia region”.

According to Trade Arabia: “more than 200 participants including nations, corporations, non-government organisations and educational institutions” are taking part in the event. The report continues, noting that “Expo 2020 has so far awarded 4,500 contracts, more than half of which have been won by SMEs.”

“At Expo 2020, we understand that SMEs are the backbone of any economy,” said McGuire, “which is why we have introduced a number of initiatives and platforms designed to increase their reach and visibility.”