Demetra-Holding and Hassad Food, Qatar's agricultural investment division, signed a memorandum of understanding at the S. Petersburg International Forum today.
Demetra-Holding and Hassad Food have agreed to explore prospective joint investments and develop partnerships in logistics and trading. Companies will look at business opportunities in the Middle East region, with a particular focus on the use of Russian technology and innovative solutions for agribusiness infrastructure projects.
Mohamed Al Sada, CEO of Hassad Food and Chairman of the Board of Directors at Widam Food: 'We are pleased to sign the memoranda of understanding with three of the most reputable and respected organisations working in the area of agriculture in the Russian market. We are happy to work together to identify investment and trading opportunities that will bring strategic and commercial value to both sides.'
Vitaly Sergeychuk, CEO of Demetra-Holding: 'For us, Qatar is an important and reliable partner in the Middle East and a key market for grain sales. Annual imports of wheat to Qatar amount to nearly 200,000 tonnes and, in the last season, more than a third of it was supplied by Russian exporters. The Demetra-Holding companies have been cooperating with Qatar for 7 years, and we see great potential in our further partnership.'