Yiwu market: An ideal hub for affordable Chinese products opens in Dubai

Yiwu market, a new shopping hub for affordable Chinese products has now opened in Dubai. This first smart free zone market in the Middle East promises to be economical for shoppers, wholesale and retail industries.

According to the Dubai Media office, DP World and the China Commodity City Group, which manages the world’s largest wholesale market in China, partnered to build the Yiwu market in Dubai with an investment of Dhs600m. It is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza) where traders and consumers can expect a new experience.

Spanning over an area of 200,000 sqm, it houses 324 warehouses, 1,600 mainland showrooms and are spread across two floors. They are divided into different sections, like electronics and appliances, furniture and lighting, beauty and accessories, tools and hardware, kitchen and bath, bedding, curtains and clothing.

Yiwu Market, the first smart free-zone market in the Middle East to cater to the retail and wholesale industries will open on June 28 @jafzadubai. The market features 1600 showrooms. pic.twitter.com/jENhSskySA

— Dubai Media Office (@DXBMediaOffice) June 26, 2022

Abdulla Bin Damithan, CEO and MD, DP World UAE and Jafza, said, “Our innovative initiatives, and advanced trade and logistics solutions have successfully cemented Jafza as an ideal destination for traders and businesses. Yiwu Market is one such solution we devised for our local traders and consumers. We saw the need for a marketplace where goods can be stored, sold, imported, and exported; all in one place, without additional charges and with the greatest possible ease. We are very optimistic about how it will enhance the trading experience for our traders and shoppers.”

So what are the advantages of the Yiwu Market? The market offers value-added services to both traders and buyers. Firstly, it includes 100 per cent foreign ownership, 100 per cent foreign repatriation of capital and profits, and no tariffs for re-export.

In a partnership between DP World and China Commodity City Group, #Dubai‘s Yiwu Market opens its doors at Jafza with 1,600 mainland showrooms.@DP_World @DPWorldUAE @jafzadubai pic.twitter.com/FiOoqIZNFo

— Dubai Media Office (@DXBMediaOffice) June 30, 2022

Secondly, due to its proximity to Jebel Ali Port and Al Maktoum International Airport, it enables easy transportation of goods in a cost and time-efficient manner. For the first two years and three months, tenants will not be required to pay a management fee. Due to the market’s location within Jafza, they will have to pay low license cost, as well as reduced logistics costs for import and export. This in turn results in lower shelf prices for consumers.

Thirdly, the market will also establish a dedicated international logistics line between the Dubai Yiwu Market and the China Yiwu Market to allow competitive costs and seamless distribution across the region. It will serve as a trade bridge between the UAE and international markets.

Fourthly, ‘Yiwu Connect’ is a special area that allows cross-border networking and information exchange between traders in Dubai and factories in China without the need of a middleman. It will allow traders to inspect the goods for quality assurance before importing them to the Dubai Yiwu Market.

As part of the Belt and Road Initiative, the UAE serves as a major gateway for Chinese exports to the Middle East. Already a trading hub in the region, Dubai has been the regional base for Chinese wholesale products since 2007 with Dragon Mart, which houses more than 6,000 wholesale and retail shops and kiosks.

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