WITH 99 PER CENT OF ITS 1,600 SHOWROOMS ALREADY OCCUPIED, THE FIRST
PHASE OF THE DUBAI TRADERS MARKET IS SET TO REVOLUTIONISE THE TRADING
EXPERIENCE OF BUSINESSES IN THE UAE
DUBAI, UNITED ARAB EMIRATES, JUNE 07, 2022: Scheduled to open soon in
the Jebel Ali Free Zone (Jafza), Yiwu Market will be the first smart
free-zone market in the Middle East to cater to the retail and wholesale
industries.
The market is a result of a partnership between DP World and the China
Commodity City Group which built and manages the world's largest
wholesale market in China for small commodities, spanning over 6 million
square metres, and attracting nearly 210,000 daily visitors.
Dubai’s Yiwu Market spans over 200,000 square metres, split between
324 customs-bonded warehouses and 1,600 mainland showrooms. Currently,
99 per cent of the showrooms are already occupied.
The AED 600 million investment is just the first phase of the Dubai
Traders Market (DTM). It will enable businesses to access wholesale
discounts with reduced supply chain costs and turnaround times by
leveraging Dubai’s strategic location, and DP World’s advanced
logistics solutions.
AHMAD AL HADDAD, CHIEF OPERATING OFFICER, PARKS AND ZONES, DP WORLD UAE
said: “As one of the leading global trade and logistics hubs, Jafza
has helped traders maximise opportunities by giving them access to 60
per cent of the world’s GDP through air, sea, and road transport. It
has also enabled efficiency in terms of procurement, fulfilment, and
final sale. With DTM’s Yiwu Market, we hope to build on these
strengths. On completion, the Market will catalyse trade and the
seamless movement of goods, and lower supply chain costs. Additionally,
since China is one of our key trade partners, the Market will reinforce
economic and trade cooperation between the UAE and China.”
QIUMING ZHANG, GENERAL MANAGER, YIWU MARKET said, “Here at Yiwu
Market, it’s been an incredibly busy and exciting journey for us. We
have recently been awarded the Building Completion Certificate from
Trakhees and are now on the brink of the grand opening. We believe that
businesses operating in Dubai’s trade sector will benefit greatly from
the advanced end-to-end solutions of Yiwu Market. The market’s
showrooms and warehouses make it an ideal solution for all trading
needs. Companies can now benefit from storage and logistics facilities,
as well as enhanced reach to their buying audience, thus connecting them
to key markets around the world.”
DIGITAL TRADE, LOGISTICS PROXIMITY
The market offers a dual free zone and onshore environment to its
customers. It allows the movement of goods directly from the airfield or
quayside into storage areas, thus avoiding any additional customs
charges. Yiwu Market will also establish a dedicated international
logistics line between the Dubai Yiwu Market and the China Yiwu Market
to allow competitive costs and seamless distribution across the region.
Through its collaboration with DP World’s Dubai Trade, Yiwu Market
aims to digitise the trading process for its customers. The services
include secure payment portals for e-transactions, maintenance of online
inventories, custom declarations, as well as hassle-free cargo gate
clearances.
TRADE BRIDGES
Yiwu Market will serve as a trade bridge between the UAE and markets
across the globe. By accommodating the facilities of international
brands, the market will act as a regional buffer for their products in
case of disruptions to the supply chain and ensuring demand for these
products can continue to be satisfied.
The benefits offered by Yiwu Market also include 100 per cent foreign
ownership, 100 per cent foreign repatriation of capital and profits, and
no tariffs for re-export. Its proximity to Jebel Ali Port and Al Maktoum
International Airport allows easy access to air and sea transportation.
Moreover, the Yiwu Market has emphasised its commitment to
sustainability, installing over 11,835 square metres of solar panels on
eight out of ten blocks of its warehouses. This will satisfy over 20 per
cent of the market’s power needs.