DP World, China firm sign agreement to boost trade

dubai — An agreement to jointly construct a new ‘Traders Market’ at DP World’s flagship Jebel Ali Port and Free Zone in Dubai on a total build up area of three million square metres has been signed between the global trade enabler and the Zhejiang China Commodities City Group, ZPG, providing further impetus to China’s Belt and Road Initiative.

DP World is building the ‘Traders Market’ within the Jebel Ali Free Zone Area located in Jafza South next to the Expo 2020 Dubai site. The market will include clusters of traders from all over the world, offering a wide range of products at one site. They will be divided by sector, ranging from household goods, building materials and food and beverage, to cosmetics and healthcare, energy and power, and engineering and technology.

Apart from promoting the Chinese government’s Belt and Road initiative, the ‘Traders Market’ will help Chinese, local and international manufacturers benefit from Dubai’s strategic location as a business and trade hub. It will also enable trade within the GCC, MEA and India Subcontinent regions, widening market reach for goods and serving as a platform to trade at competitive prices.

The partnership complements an agreement that was signed earlier this year between DP World and ZPG for a ‘Straight-through Warehouse’ project in Yiwu, China — which is the world’s largest wholesale market for small commodities — for a warehouse that will hold cargo destined for Dubai and the Middle East. Both projects aim to boost trade between the UAE and China by offering Chinese businesses DP World’s integrated logistics and trading solutions, including cargo handling at their terminals in China and Jebel Ali Port in Dubai, warehousing facilities in the neighbouring Jebel Ali Free Zone (Jafza), one-stop customs clearance facilities and trade licences.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Dubai and China have a long-standing trading history and it’s essential that we develop the movement of goods in tandem with the growing needs of consumers.”

Dubai and China have a long-standing trading history and it’s essential that we develop the movement of goods in tandem with the growing needs of consumers Sultan Ahmed Bin Sulayem,

DP World Group Chairman and CEO