Page 863 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/14/24, 9:51 AM Minister of Economy opens Future Food Forum 2024
and ministries, to ensure food security in the future. As an import-heavy country, we

know that there are a number of things that we, as a key sector, can do to enhance

food security and supply chain, increase export, protect our market and practical

policies. These topics should be openly discussed between the stakeholders."

The meeting also reviewed key trends and highlighted the F&B sector's strong

performance and future potential. In the previous year, the UAE saw a total volume

of food imports amounting to US$23 billion, while food exports reached US$6.6

billion. During the first half of the year, the sector experienced a 20 percent growth

in total trade. Food imports increased by 23%, and exports saw a 19% rise,

showcasing the UAE's commitment to bolstering its food security and expanding its

role in the global food trade industry.

One of the key announcements as F&B Group Chairman Saleh Abdullah Lootah

opened the event was the launch of the UAE Foodverse by the F&B Group. This

innovative virtual platform aims to transform the nation's food ecosystem by

offering real-time data, fostering collaborations, and creating partnerships within

the industry. The Foodverse will bridge the gap between industry stakeholders,

enabling seamless information sharing and more strategic decision-making in the

food sector.

"UAE Foodverse is a revolutionary metaverse platform designed to connect the

global F&B industry virtually. As part of the UAE's Food Cluster Strategy, the

Foodverse will foster collaboration, innovation, and trade within a virtual

environment," said Saleh Lootah. Some of the key features of the platform include

educational modules to understand food security regulations and supply chain

management, VR-based interactive workshops for training and product

demonstrations, gamified experiences targeting the Gen-Z and future consumers, as

well as a virtual marketplace for showcasing products, linking directly to e-

commerce platforms, and streamlining operations from farm to fork.

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