Scheduled to open soon in the Jebel Ali Free Zone (Jafza), Yiwu Market will be the first smart free-zone market in the Middle East to cater to the retail and wholesale industries.
The market which is built with an investment of roughly 600 million Emirati dirhams is a result of a partnership between DP World and the China Commodity City Group.
Dubai’s Yiwu Market is just the first phase of the Dubai Traders Market (DTM) and spans over 200,000 square meters split between 324 customs-bonded warehouses and 1,600 mainland showrooms.
The market offers a dual-free zone and onshore environment to its customers. It allows the movement of goods directly from the airfield or quayside into storage areas, thus avoiding any additional customs charges.
It will enable businesses to access wholesale discounts with reduced supply chain costs and turnaround times by leveraging Dubai’s strategic location, and DP World’s advanced logistics solutions.
Through its collaboration with DP World’s Dubai Trade, Yiwu Market aims to digitize the trading process for its customers. The services include secure payment portals for e-transactions, maintenance of online inventories, custom declarations, as well as hassle-free cargo gate clearances.
Yiwu Market will serve as a trade bridge between the UAE and markets across the globe. By accommodating the facilities of international brands, the market will act as a regional buffer for their products in case of disruptions to the supply chain and ensure demand for these products can continue to be satisfied.
The benefits offered by Yiwu Market also include 100 percent foreign ownership, 100 percent foreign repatriation of capital and profits, and no tariffs for re-export. Its proximity to Jebel Ali Port and Al Maktoum International Airport allows easy access to air and sea transportation.
