Friday Focus: DP World to Open BRI Logistics Station
DP World has announced it will build a logistics base as part of China’s Belt and Road Initiative (BRI), in partnership with Zhejiang Provincial Seaport Investment & Operation Group (ZPG).
Named the Dubai Station, the logistics hub is part of an increasingly strong trade and investment relationship between China and UAE.
The ceremony was attended by Mohammed Al Muallem, CEO and Managing Director of DP World UAE, and a delegation from ZPG.
Trade between the two countries reached $50 billion in 2017, compared with US-UAE trade in the same time period which was $25.8 billion.
The UAE is the 25th largest economy on Earth, and the fifth biggest oil exporter. In recent years it has made substantial efforts to diversify its economy.
A big part of that is utilising smart technologies, which Dubai is currently doing to the point where it hopes to be the world’s first fully integrated ‘Blockchain City’ by 2021.