UAE - Mubasher: DP World UAE Region seeks to foster the trade exchange between the UAE and China by supporting and partnering with Chinese companies.
The smart trade enabler highlighted its objective during a webinar held in partnership with the Chinese Business Council in the UAE to discuss business opportunities for Chinese companies in the MENA region under the Belt & Road Initiative (BRI), according to a press release on Tuesday.
To strengthen the UAE-China trade, DP World has previously launched the Yiwu Market, in partnership with Zhejiang China Commodity City Group (CCC), as part of the first phase of Dubai Traders Market, located in Jafza.
Spanning over around 800,000 square metres, Dubai Traders Market will enable the world's traders and businesses to have access to wholesale discounts with minimised supply chain costs and turnaround times by promoting DP World’s logistical expertise.
In 2019, China's non-oil trade with the UAE reached more than $49 billion, while its imports have represented 15% of the total UAE non-oil imports, valued at $33 billion.
Meanwhile, Jafza at DP World’s Jebel Ali hub, which creates the most strategic multimodal trade hub in the region, represents around 24% of total FDI flow into the country and contributes 23.8% of Dubai’s GDP with over 8,000 companies.
The CEO and Managing Director at DP World UAE Region and Jafza, Abdulla bin Damithan, said: "Bilateral trade between the UAE and China has surged over the years due to factors like strong trade relations and people-to-people synergies. Considering these factors, the UAE is a strategic partner of the Belt and Road Initiative that brings in a whopping 34 per cent of the global GDP."
Meanwhile, the Consul General of the People’s Republic of China in Dubai, Li Xuhang, remarked: "China will uphold the principles of extensive consultation, joint contribution, and shared benefits, so that the "Belt and Road" Initiative will better benefit the people of all countries and promote the building of a community with a shared future for mankind."
