The agreement will help China-based manufacturers trade across the Middle East and Indian Subcontinent, according to the company.
Ports operator DP World has penned an agreement with the Zheijiang China Commodities City Group to build a new 'Traders Market’ at Jebel Ali Port and Free Zone, in a move the companies say will help boost China’s ambitious Belt and Road initiative.
The Traders Market will include clusters of traders from around the world, offering a wide range of products at one location.
According to DP World, they will be divided by sector, ranging from household goods, building materials and food and beverage to cosmetics, healthcare products, energy and power, engineering and technology.
Additionally, the project will help Chinese manufacturers benefit from Dubai’s location by enabling trade with other places in the GCC, Middle East and Indian Subcontinent.
The partnership complements a previous agreement signed earlier this year between DP World and the Zheijiang Seaport Investment and Operation Group (ZPG) for a ‘straight through warehouse project in Yiwu, China.
“Dubai and China have a long-standing trading history and it’s essential that we develop the movement of goods in tandem with the growing needs of consumers,” said DP World Group Chairman and CEO Sultan Ahmed bin Sulayem.
“Today people expect to receive their products quickly and efficiently and initiatives such as these will create the trade hubs and seamless supply chain opportunities needed to capitalise on global economic growth.”
Sulayem added that the Traders Market “will provide an ideal platform for traders to showcase and sell goods in Dubai to local and international businesses.”