DP World and Zheijang China Commodities City Group have agreed to jointly construct a ‘traders market’, covering 3m sq m in Jebel Ali Free Zone Area.
Aiming to take advantage of China’s Belt and Road Initiative, 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 beverages, to cosmetics and healthcare, energy and power, and engineering and technology.
The market is meant to help Chinese, local and international manufacturers benefit from Dubai’s location as a business and trade hub.
The partnership complements an agreement that was signed earlier this year between DP World and the Zhejiang Seaport Investment and Operation Group (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 licenses.
Sultan Ahmed bin Sulayem, DP World group chairman and CEO, said: “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 growth.
“The new ‘Traders Market’ will provide an ideal platform for traders to showcase and sell goods in Dubai to local and international businesses.”