An Understanding Agreement was contentedly signed between Union Cooperative Society and Khalifa Fund for Enterprise Development on Tuesday 22/01/2013, which was perceived as an opportunity to develop prospects of collaboration between the two parties.

Both Foundations anticipated this memorandum as an opportunity to achieve their goals of promoting entrepreneurship in the United Arab Emirates, as well as encouraging and facilitating the development of private businesses, and to stimulate initiatives between the citizens of the United Arab Emirates, in addition to stimulating the development of key economic sector, a sector of small enterprises and medium-sized enterprises.

This memorandum is also aimed to provide additional incentives and better competitive conditions for the registered suppliers of Khalifa Fund, in which Union Cooperative Society will provide the affiliated suppliers with the complete support in the fields of professional training, as well as propose better suggestions related to the level of service and Quality of their merchandise.

In addition to all that, all affiliated suppliers will receive a full release from the entire year fees, and will get a 50% discount on all product display costs from the date of signing the contract plus other more incentives.

Union Cooperative Society was represented by Mr. Khalid Humaid Al Falasi, General Manager to sign the memorandum, while Khalifa Fund for Enterprise Development was represented by Mr. Ibrahim Al Mansouri, Chief Operating Officer.