DP World seeks to foster UAE-China trade ties

DP World seeks to foster UAE-China trade ties

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%