|Yiwu Commodities City in Dubai Opens|
According to the Mall Group, on January 5, the construction of “Yiwu Commodities City” has started in Dubai, and the City is scheduled to open for business when the 2021 Dubai World Expo opens. Dubai’s Yiwu Commodities City will soon become the largest professional wholesale center of small commodities in the Middle East, providing inter-connected development of online and offline selling.
Dubai is known as the “gateway to the Middle East” and is the region’s largest trade distribution center for commodities made in Yiwu. More than half of Yiwu’s exports to the Middle East and Africa pass through Dubai. Furthermore, Dubai plays an important role in the Belt and Road Initiative. Yiwu, as the world’s largest small commodities city, is focusing on African and Middle Eastern markets to develop its exports while the European and American markets are hit hard by COVID-19.
In 2020, Yiwu entered the era of “Pilot Free Trade Zone.” Taking this significant opportunity, Mall Group and Dubai Ports World, two giant companies, have been working hand in hand to jointly develop and construct the “Yiwu Commodities City” in Dubai. (By Wu Fengyu, translated by Zhang Jiajia, edited by Kendra Fiddler)