DP World, UAE Region, recently hosted a webinar in partnership with the Chinese Business Council in the UAE to discuss business opportunities for Chinese companies in the MENA region under the Belt & Road Initiative (BRI).
In his opening speech Abdulla Bin Damithan, CEO & Managing Director, DP World – UAE Region and Jafza, highlighted how Dubai is a gateway for Chinese exporters. He also pointed out that to strengthen UAE-China trade, DP World in partnership with Zhejiang China Commodity City Group (CCC) recently launched the Yiwu Market as part of the first phase of Dubai Traders Market, located in the heart of Jafza. Dubai Traders Market will span approximately 800,000 m2, with Yiwu Market covering about 200,000 m2.
The market will give traders and businesses from across the globe access to wholesale discounts with reduced supply chain costs and turnaround times by leveraging DP World’s logistical expertise.
Bin Damithan said: “Bilateral trade between the UAE and China has surged over the years and we have always been welcoming of Chinese companies from a wide range of sectors. As a result of various incentives and initiatives, we have seen increasing interest from Chinese companies wanting to invest in Dubai and strengthen their presence in Jebel Ali.” Indeed China is now not only the top country by trade value at Jafza, but it is also the fourth in terms of trade volume.