Jebel Ali Free Zone (Jafza) has announced that it will house the Yiwu market, which will open soon, to be the first smart free zone in the Middle East for the retail and wholesale sectors.
A statement reads that the market was established in partnership between “DB World” and “China Commodities City Group”, which built and managed the world’s largest wholesale market in China for small consumer goods, covering an area of more than six million square meters meters, and attracts about 210 000 visitors per day.
The market allows 100% foreign ownership of companies, with the freedom to fully transfer capital and profits without restrictions.
The “Yiwu Market” in Dubai covers about 200,000 square meters; Divided between 324 tax-free warehouses and 1,600 showrooms. 99% of the showrooms are already occupied.
The “Yiwu Market”, with an investment of 600 million dirhams, represents the first phase of the “Dubai Merchant Market”, as the “Yiwu Market” will allow traders and companies to obtain wholesale prices and discounts, to reduce costs of transactions to reduce. with the supply chain, and shortened delivery times, by taking advantage of Dubai’s strategic location, and DB World’s advanced global logistics expertise.
Ahmed Al-Haddad, Executive Director of Operations in Business Parks and Free Zones in the UAE, said: “Jafza contributes to helping traders and businessmen expand trade opportunities by giving them access to their products, by land, sea and air. , to economies that make up 60% of global gross domestic product.
He added, “This role has enabled us to increase the efficiency of the supply of goods and improve the ability to fulfill and deliver final sales orders, and we hope that this (Yiwu Market) of the Dubai Merchants Market will help to strengthen this position, and dedicate our achievements, “and note that it will be for the market When completed, it will play a major role in stimulating trade and the smooth movement of goods, in addition to reducing the cost of handling the supply chain; As China is one of our most prominent trading partners, Yiwu Market will also help promote economic and trade cooperation between the UAE and China.
In turn, the general manager of Yiwu Market, Qioming Zhang, said: “It was a pleasant completion journey for us, especially when we finally obtained the construction completion certificate from (Trakhees) Corporation, and we are now approaching the grand opening date. We are confident that companies operating in the commercial sector in Dubai will greatly benefit from the advanced comprehensive solutions provided by the market. Showrooms and warehouses make the market an ideal solution for all the needs of traders and companies benefiting can draw from warehouse and logistics facilities, in addition to easy access to buyers in Dubai The main markets around the world.
“Yiwu Market” offers merchants a free zone and a dual-value commercial environment, as it allows the transfer of goods directly from the airport or quay to storage areas, and avoids the payment of any additional customs duties. A special international logistics line will also be established between the “Yiwu Market” in Dubai and the “Yiwu Market” in China, to improve price competitiveness, reduce costs and facilitate the distribution process throughout the region.
The benefits offered by the “Yiwu market” include allowing 100% foreign ownership of companies, with the freedom to fully transfer capital and profits without restrictions, in addition to the release of goods and commodities from any customs duties when it is again exported outside the country. The market’s proximity to Jebel Ali Port and Al Maktoum International Airport also facilitates easy access to air and sea transportation.
With an emphasis on Yiwu Market’s commitment to sustainability, more than 11,835 square meters of solar panels have been installed in eight of the 10 storage complexes, providing more than 20% of the market’s energy needs.
The “Yiwu Market” will serve as a trade bridge between the UAE and other markets around the world. By offering the facilities of international brands, the market will become a regional warehouse for the products of these companies in the event of disruption in the supply chain, to ensure the stability to meet the demand for these products.
Secure payment gateways
And Yiwu Market, through collaboration with DB World’s Dubai Trade Portal, will provide the ability to digitize trading activities for clients.
The services include secure payment gateways for electronic transactions, electronic product lists and customs declarations, in addition to the convenience of issuing goods port permits.
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