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Aramex Partners with BizX Trading for Barter Exchange Market
This deal comes on the heels of a dozen partnerships formed by BizX in its efforts to bolster its Middle East pool of partners.
Dubai- August 5, 2007 - BizX Trading (BizX), the international division of the US-based BizXchange, a leading corporate business-to-business barter exchange, today announced that it has signed an agreement with Aramex, a leading provider of total transportation solutions in the MENA region and South Asia, where Aramex will exchange logistics services for a range of products and services available in the BizX Trading exchange on a barter basis. This deal comes on the heels of a dozen partnerships formed by BizX in its efforts to bolster its Middle East pool of partners.
"Our partnership with BizX will help us in creating budgeted value from our excess capacity, where we can now utilize the full value of any extra capacity by trading that value for services through BizXchange," said Samer Hajjar, General Manager of Aramex Dubai, "This value will offset cash expenditures and at the same time allow us to invest more in attracting new customers."
Under the agreement, BizX will take a position in Aramex's inventory of logistics services and in return receive an equal value of 'BizX Trade Credits.' Aramex will then use these credits to access a variety of products and services that range from marketing and promotion materials, advertising, printing and other requirements through the BizX pool of partner companies.
"Barter is a dynamic growth industry for the 21st Century and beyond, an industry old as man, and as modern as mobile phones. As the industry is keep growing and developing, the profiles of companies within the industry are also expanding significantly," said Bob Bagga, President and CEO of BizX Trading. "This partnership with Aramex - one of the region's most recognized courier and shipping companies - will encourage other organizations to join our exchange and benefit from the tremendous values that both BizXchange and barter bring to the table."
The use of BizX as a trading platform expands the ability to trade by allowing companies to buy and sell products and services with a variety of other exchange partners. In the Middle East, BizX focuses on developing partnerships with companies involved in real estate, media, travel & hospitality, printing and any other business that carries excess inventory or capacity. Such companies, can 'sell' this spare capacity to BizX and in return 'buy' back the equivalent value in a variety of products and services from other BizX partners.
Since its formation in 2002, BizX has conducted over AED552 million (US$150 million) in barter transactions. It has approximately 1500 active member companies, with affiliates worldwide in Singapore, Turkey, Malaysia, Australia and UK. BizX had been operating in the Middle East for over two years before officially launching its regional office in Dubai on June 10th 2007 as an international hub for its global exchange network.
Recently, BizXchange has been named to the East Bay Business Times list of "50 fastest-growing privately owned companies" in the East Bay. It was ranked 35th this year, with a 50.4 percent revenue growth and a 70.5 percent growth in employees between 2004-2006.
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