Cypriot food producers aiming to increase their export volumes can now take advantage of a new initiative designed to establish a stronger presence in the United States market.

Specifically, Rovshan Rasulov, CEO and founder of Rgand, has launched the Direct Trade Foundation (DTF), committing $100 million to help producers from Cyprus, Greece, and other countries break into the US restaurant sector.

According to an official announcement, this foundation aims to tackle traditional barriers to entry by providing financial support, strategic guidance, and logistical backing to enable producers to sell directly to US businesses without middlemen.

“Our foundation offers strategic support, advanced technologies, and robust logistical infrastructure, enabling producers to effectively enter the US market,” Rasulov said.

Moreover, he explained that by investing in these areas, the foundation removes many obstacles that have traditionally hindered direct trade relationships between international producers and US restaurants.

It should be noted that the US food service industry, valued at approximately $1.1 trillion annually, presents formidable challenges, including complex regulatory environments and the need for reliable supply chains.

DTF said that it plans to select 50 producers annually from a competitive global pool, equipping them with the tools to meet US quality standards and regulatory requirements.

“Producers from Cyprus and Greece can receive in-depth training on US market regulations, consumer preferences, and operational best practices,” the foundation said.

Additionally, logistical support will be provided, so that products meet and exceed the stringent quality standards required by US regulations while ensuring timely delivery across the Atlantic.

“The intricate logistics of transporting perishable goods across vast distances requires robust infrastructure and precise coordination,” the announcement said.

“DTF’s logistical framework is designed to handle these complexities, ensuring that all products maintain their quality from farm to table,” it added.

The foundation said that this can be achieved through partnerships with leading logistics providers and the use of state-of-the-art technology to monitor and manage the transportation process.

“Transforming the supply chain into an efficient, cost-effective and transparent supply chain can be accomplished through robust logistics, networking, and technology infrastructures,” said Rasulov.

“Our foundation equips producers with the strategies, technologies, and tools to successfully trade directly with the restaurant industry,” he added, noting that “this will lead to supply chain transformation with minimal intermediaries”.

Rasulov also said that “entering the US restaurant market is very resource-intensive”.

“You need to participate in trade shows and have representatives, logistics, and sales channels,” he stated.

“Through DTF, producers can showcase their products directly to potential buyers, allowing them to experience the quality firsthand, which is pivotal in establishing long-term business relationships,” Rasulov added.

This initiative, the announcement continued, is being implemented in partnership with Limassol-based Aivitam Ventures (CY), a venture fund and start-up builder.

Its aim is to “revolutionise the way Mediterranean food products reach American diners” by providing producers “direct access to a lucrative market, eliminating intermediaries and reducing costs, while streamlining supply chains and enhancing market reach for Mediterranean producers”.

The Direct Trade Foundation also said that it has an inclusive approach to selecting producers. “The focus is not merely on technological advancement, but also on the potential contribution of new ideas and practices that can revolutionise the food industry,” it said.

It explained that this inclusive strategy ensures a diverse pool of participants, with initial selections from Europe, the United States, and Latin America, aimed at introducing a variety of high-quality, innovative products to the US market.

In addition, it said that “producers from Cyprus, Greece, Ukraine, and Turkey are also welcome to participate”.

“As we expand, our goal is to include producers from across the globe, making the US market accessible to the best and most innovative in the food industry,” Rasulov stated.

“This strategy not only enhances the diversity of products available in the US but also promotes global culinary innovation,” he added.

Interested businesses can apply to the foundation by following this link.