DP World UAE Region has announced it will build on its support and partnership with Chinese companies with the aim of boosting trade between the region and China.
During a webinar in partnership with the Chinese Business Council, CEO & Managing Director DP World UAE Region Abdulla Bin Damithan shed light on Dubai as a gateway for Chinese exporters.
DP World UAE region has been discussing trade opportunities with Chinese companies in the Middle East and North Africa (MENA) region under the Belt & Road Initiative (BRI).
The UAE’s geographical location and the dynamic market have proved as key differentiators that have captured the attention of the Chinese business community.
This has given the country a vital status in the BRI, which attempts to link China by both sea and land to markets in Asia and Europe.
DP World in partnership with Zhejiang China Commodity City Group (CCC) recently launched the Yiwu Market as part of the first phase of Dubai Traders Market, located in the heart of Jafza.
The market will give traders and businesses access to discounts with minimised supply chain costs and turnaround times by leveraging DP World’s logistical expertise.
“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 BRI that brings in a whopping 34% of the global GDP,” Bin Damithan said.
“In alignment with the goals of our wise leadership and as a driver for economic growth in the UAE, we have always been welcoming of Chinese companies from an array of sectors.”
H.E. Li Xuhang, Consul General of the People’s Republic of China in Dubai, noted, “Under the guidance of the new development philosophy of innovation, coordination, environmental friendliness, openness, and sharing, China will speed up the construction of a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other, which will bring more extensive cooperation between China and the UAE.
“China will uphold the principles of extensive consultation, joint contribution, and shared benefits, so that the BRI will better benefit the people of all countries and promote the building of a community with a shared future for mankind.