Listed seafood producer and exporter Alliance Select Foods International Inc. said Monday it plans to increase its market share in the Middle East.
The company said in a disclosure to the stock exchange it was exploring partnerships with key distributors in the region.
“As we continue to fortify our presence in international markets, the Middle East plays a pivotal role in our current sales strategy. This region boasts of a strong consumer market with an increasingly growing taste for quality tuna and smoked salmon and we are eager to position our products at the forefront of this promising trend,” said Alliance Select president and chief executive officer Raymond See.
The Gulf Cooperation Council said the entire Middle East consumed 392,000 tons of fish every year and was expected to grow yearly until 2030, with the United Arab Emirates alone expected to exceed the region’s current consumption.
Alliance attributed the increase in consumption to a rising population, affluence and economic diversification by some countries in the region.
The Middle East is not a new market for Alliance Select and it is determined to leverage its strength and familiarity with the industry to successfully expand its tuna and salmon business in the region.
“Alliance Select is equipped to be a major player in the Middle Eastern fish industry thanks to our vertically integrated business model. The vertical model covers manufacturing, canning and distribution, which ensures that the company provides fresh, premium quality seafood products,” See said.
“We are very excited to meet our goals for this region. We are confident that new patrons in the Middle East will share in the exceptional quality that Alliance Select’s products are known for,” See said.
Earlier this year, the company said it planned to bring in more products in the United Kingdom.
Alliance Select said UK’s GSP + status made it possible for Alliance Select to significantly expand its existing market in the Eurepoean Union.
The GSP + status allows zero percent duty trade on tuna products with the European Union member states.
Alliance Select said the status would help the company attract more clientele because of the competitive price it could offer.
“The UK is one of the leading destinations of processed tuna in the EU and Alliance Select is well-positioned to meet that demand,” said See.
