Tuesday, August 27, 2019

Freezone Tie Up for Port and Logistics Outfit with Retail Marketing Specialist

Middle Eastern Deal Sees New Link Forged in Belt and Road Strategy
Shipping News Feature
DUBAI – Port and logistics group DP World has announced a partnership with the Zhejiang China Commodity City Group Company (CCC) to develop what the pair term a 'Traders Market' in the Jebel Ali Freezone (JAFZA) and they say, create the first smart Freezone market place in the Middle-East for the retail and wholesale industries aiming to serve the wider region with a population base of over 2 billion.

The intention is to allow traders to benefit from lower supply chain costs by using the multi-modal infrastructure available in Jebel Ali and Dubai. International traders will be able to procure bulk products in Dubai at wholesale prices with the shortest delivery times and will be able to service demand more efficiently. The Traders Market project will span approximately 800,000 m2, with Phase 1 development covering about 220,000 m2. Construction is expected to start in Q4 2019 and take 24 months to complete.

Established in 1993, Zhejiang China Commodity City Group, based in Yiwu, in the Zhejiang district of China, is a leading developer and operator of merchandise trading platforms. CCC’s operations include the Yiwu Permanent Fair, China Yiwu International Commodities Fair and Yiwu Imported Commodities Fair. These marketplaces span an area of some 5 miles with approximately 75,000 traders and tenants. The footfall to the markets exceeds 200,000 visitors per day and attracts over 500,000 international traders annually. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said:

“We are excited to announce this partnership with China Commodity City to develop the Traders Market. This investment showcases our trade-enabling strategy as we look to catalyse trade and the movement of goods through removing inefficiencies and lowering supply chain costs. We are delighted that CCC has chosen Jebel Ali Freezone as its exclusive investment in the region, highlighting DP World’s ability to attract trade through its best-in-class infrastructure and emphasising Dubai’s position as the regions premier trading hub.

“When we acquired Jebel Ali Freezone in 2015, our vision was to attract clients that will not only provide lease income but also bring significant origin and destination cargo, promoting Dubai as a trading hub. This transaction helps us achieves this vision. We believe we have found the right partner in CCC, with the relevant expertise and experience to make this project a success. We look forward to a strong and enduring partnership.”

DP World’s new Chinese partners were equally keen to tie up with the global ports owner and operator with Mr. Zhao Wenge, Group Chairman, CCC Group explaining its reasons for the new cooperation thus:

“The Middle-East/Africa region is critical for the Belt and Road Initiative (BRI), and we aim to serve this high-growth market through the Traders Market in Jebel Ali, Dubai. We have chosen Jebel Ali for its efficient infrastructure, business-friendly environment and significant trade with China. The CCC group has a wealth of experience and a strong reputation for developing and operating efficient large-scale trading marketplaces. Together with DP World we are confident this venture will be a success.”

Photo: Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO flanked by Zhao Wenge, Group Chairman, CCC Group and Mohammed Al Muallem, CEO and Managing Director, DP World, UAE region during the signing ceremony at JAFZA.