STOCKHOLM (04/18/2000) - Oracle Corp. and the Dubai Ports Authority yesterday announced an agreement to develop an online business-to-business marketplace billed as the first of its kind in the Middle East.
The plan calls for the Dubai Electronic Business-to-Business Marketplace to be launched within 60 days, according to a statement.
Financial terms of the agreement were not disclosed.
Oracle will provide the software technology and hosting platform for the electronic marketplace, which will be led by the Dubai Ports Authority and be aimed at allowing businesses and organizations across the Middle East and Africa to buy and sell goods and services online, according to the statement.
Organizations joining the exchange are expected to initially purchase subscriptions based on the size and value of their business, the statement said.
Dubai, in the United Arab Emirates, is a major trading port. The Jebel Ali Free Zone, within the Jebel Ali Port of the Dubai Ports Authority, generates more than US$8 billion in trade annually, the statement said.
Oracle, in Redwood Shores, California, can be reached at +1-650-506-7000, or via the Web at http://www.oracle.com/.