The opening of "Yiwu Market" as a first stage for the Dubai Merchants Market in "Jafza" and a new achievement within the "Belt and Road" initiative
Today, the official opening ceremony of "Yiwu Market" was held in Dubai, which is a hybrid shopping complex that will enable local and global supply chains. Dubai Merchants" in the Jebel Ali Free Zone (Jafza), which will extend over an area of approximately 60 million square feet, and will include 20,000 stores.
Yiwu Market combines DB World's great logistics experience with the vision of China Commodities City, which operates Yiwu China Commodities City, the world's largest wholesale market, giving it a unique competitive advantage as the first smart market in a free zone. In the Middle East, it is a one-stop shop for all purchasing needs, and a highly efficient platform for trading wholesale and retail merchandise, both online and offline.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DB World Group, said: "The opening of 'Yiwu Market' is a new achievement within the framework of the Belt and Road Initiative. The launch of this market through our cooperation with China Commodity City is part of the efforts It aims to stimulate the economic diversification of the United Arab Emirates, and supports Dubai's strategic plan to increase the volume of foreign trade to reach 2 trillion dirhams within five years.
He added: "Through the development of this qualitative project, we confirm our commitment to strengthening Dubai's position as the third largest re-export center in the world, as the market mainly aims to establish a special international logistics corridor between the Yiwu markets in both Dubai and China, which will ensure the efficiency of the movement of Chinese goods to the UAE, and make It is the most streamlined gateway for the distribution of goods in the fast-growing markets of the Middle East, Africa, the Mediterranean region and Europe."
For his part, Wenjie Zhao, Chairman of China Commodity City Group, said: “With its unique retail experience integrated with warehousing facilities, the market will provide a number of value-added services that benefit both merchants and shoppers alike. These features represent an ideal solution to all the commercial needs of global companies.”
Covering an area of more than 2 million square feet, the "Yiwu Market" includes 1,600 showrooms with an occupancy rate of 99%, spread over two floors, including two sections specially built to serve merchants, each extending about 950 meters. The market consists of five main entrances, five lobbies and three corridors. .
The "Yiwu Market" will also allow merchants and companies from around the world to obtain wholesale prices and discounts, which helps reduce the costs of dealing with the supply chain, and reduce delivery times, by taking advantage of the strategic location of Dubai.
Thanks to its strategic location, its supportive approach to business and commercial activities, and its strong infrastructure, especially in the field of air and maritime transport, which connects it to about 400 cities around the world, Dubai enjoys a privileged position among markets full of promising investment opportunities, while Dubai provides the ideal transit gateway to some of the largest markets in the world. The Middle East, Europe, Africa, India, Asia and beyond, while Dubai’s share is estimated at 11% of the total global freight activities, which confirms its strategic value and pivotal position within the global trade and logistics sector.
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