Dubai’s Yiwu Market Eyes Trade Revolution as Grand Opening Nears

Prepared to open soon in the Jebel Ali Free Zone, Yiwu Market would be the first wise free zone market in the Middle East to complete the wholesale and retail industries. The market is an outcome of a partnership between DP World and the China Commodity City Group which formed and handles the world’s biggest wholesale market in China for small commodities, spanning more than six million sq m. and appealing to almost 210,000 regular visitors.

Yiwu Market of the Dubai emirate spans more than 200,000 sq m. It consists of over 1,600 mainland showrooms and over 324 customs-bonded warehouses. Recently, 99% of the showrooms are previously settled. The AED 600 million acquisition is only the first stage of the Dubai Traders Market. This would make businesses capable to reach wholesale market discounts with decreased supply chain prices and turnaround times by utilizing the emirate’s strategic spot, and DP World’s modern logistics solutions.

Ahmed Al Haddad, Chief Operating Officer, Zones and Parks, DP World UAE stated – “As one of the major international trade and logistics centers, JAFZA has assisted traders to increase possibilities by providing them reach to 60% of the world’s GDP through the sea, air, and road transport. This has also made capable productivity in cases of purchase, completion, and final sale. With DTMs Yiwu Market, we expect to form on these strengths.”

“On fulfillment, the market would facilitate trade and the smooth action of goods, and lower supply chain prices. In addition, since China is one of our major business partners, the Market would support economic and business collaboration between China and the United Arab Emirates.”

Qiuming Zhang, General Manager, Yiwu Market stated – “Here at Yiwu Market, this is been an extremely busy and thrilling journey for us. We have been currently granted the Building Completion Certificate from Trakhees and are now at the point of the grand opening. We trust that businesses functioning in the business sector of the Dubai emirate would advantage highly from the modern end-to-end solutions of Yiwu Market”

“The warehouses and showrooms of the market make it a perfect solution for all business requirements and demands. Corporations can now advantage from storage and logistics features, along with increased access to their purchasing public, hence linking them to major markets throughout the globe.”

Digital Trade, Logistics Proximity 

The market provides a dual-free zone and onshore climate to its clients. This permits the direction of goods directly from the airport or dock into storage spots, hence avoiding any extra customs costs. Yiwu Market would also form a committed global logistics line between the Dubai Yiwu Market and the China Market to permit competitive prices and smooth distribution throughout the territory.

Through its cooperation with DP World’s Dubai Trade, Yiwu Market set the target to automate the trading procedure for its clients. The services comprise secure payment portals for e-transactions, maintenance of online products, custom orders, and trouble-free cargo fate support.

Trade Bridges 

Yiwu Market would work as a trade bridge between the United Arab Emirates and markets around the world. By adjusting the features of international brands, the market would work as a restricted cushion for their products in terms of disturbance to the supply chain and making sure demand for these products can constantly be pleased. The advantages given by Yiwu Market also comprise 100% overseas ownership, 100% overseas repatriation of profits and capital, and no tariffs for re-export. Its closeness to Jebel Ali Port and Al Maktoum International Airport permits easy reach to sea and air transportation. In addition, the Yiwu Market has emphasized its dedication to stability, installing more than 11,835 sq m of solar panels on 8 out of 10 blocks of its warehouses. It would benefit more than 20% of the power requirements of the market.

Also Read: DP World And CDPQ Invest US$5 Billion in UAE

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