The volume of goods flowing between China and the UAE is expected to get a further boost from a new Traders Market at Jebel Ali Free Zone, which is being set up as a result of an agreement signed between DP World and Zhejiang China Commodities City Group. The initiative, based on a 3 million m2 site in JAFZA South, next to Dubai Expo 2020 aims to provide further impetus to China’s Belt and Road project.
The market will include clusters of traders offering a wide range of product types. It is expected that it will help Chinese, local and international manufacturers benefit from Dubai’s strategic location as a business and trade hub, providing a platform for traders to showcase and sell goods.
DP World group chairman and chief executive, Sultan Ahmed Bin Sulayem, says, “Dubai and China have a long-standing trading history and it is essential that we develop the movement of goods in tandem with the growing needs of consumers. Today people expect to receive their products quickly and efficiently and initiatives such as these will create the trade hubs and seamless supply chain opportunities needed to capitalise on global economic trade growth.”
The partnership complements an agreement signed earlier in the year between DP World and Zhejiang Seaport Investment and Operation Group (ZPG). This provides for investment in a large warehouse project in Yiwu, China, that will hold cargo bound for Dubai and the Middle East.