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DUBAI’S YIWU MARKET EYES TRADE REVOLUTION AS GRAND OPENING NEARS

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.

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