Saudi online product distributor Stockzones has teamed up with Distichain, a UAE-based B2B trading company, to launch a B2B platform to streamline import and export processes in the Middle East.
This step aims to empower both online and offline distribution, in keeping with Saudi Vision 2030.
CEO of Stockzones, Hussam Damen, said: “This partnership with Distichain aligns perfectly with our vision of enhancing the distribution landscape in the Middle East and supporting Saudi Vision 2030’s ambition to make Saudi Arabia the regional e-commerce hub.”
The partnership is cemented through a Letter of Intent signed by both parties during Seamless 2023 in Riyadh.
The LOI outlines the commitment of Stockzones and Distichain to bring efficiency, transparency and convenience to businesses to distribute their products within the region.
Both companies are looking to work together and launch the enhanced B2B capabilities later this year.
CEO of Distichain, Haisam Jamal, said: “We believe that our collaboration can add real value to suppliers looking to seamlessly operate across the Middle East.
“By embracing digitalisation, this collaboration with Stockzones will empower businesses’ ability to grow”.
The Middle East has witnessed a remarkable surge in the adoption of B2B e-commerce in recent years, Middle East Market Analysis reports.
This growth can be attributed to various factors, including increasing internet penetration and the proliferation of online marketplaces.
