Dubai / Emirates Business
In another major step towards positioning the UAE and Dubai as a hub for east-west trade global trade enabler DP World has announced plans to build ‘The Belt and Road’ Dubai Station in partnership with Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd (ZPG).
The Belt and Road Station will integrate logistics, warehousing, e-commerce, circulation processing and distribution display services through an electronic platform that enables trade and business transactions.
The announcement follows an initial agreement in March to work on a ‘Straight-through Warehouse’ project in Yiwu, China, and a letter of intent in June to develop this new project.
Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said:” ‘The Belt and Road’ Dubai Station marks a milestone in the evolution of Dubai as an international trade and commercial hub. Our partnership with Zhejiang Provincial Seaport Investment & Operation Group will encourage a new era of business growth in the UAE and across the region and will play a pivotal role in the Dubai One Belt and One Road Trade Market (OBOR TM) to expand operations and create higher economic and social benefits.
“China is Dubai’s biggest trading partner, with AED69 billion worth of trade in the first half of 2018. We have a long-standing trading history and it’s essential that we develop the movement of goods to meet the growing needs of consumers. As a major port operator, ZPG is an ideal partner for us to build on our role as a global trade enabler. When fully developed both ‘The Belt and Road’ Dubai Station and the ‘Straight-through Warehouse’ project in Yiwu will have the potential to create a new economic facility that will span three continents and benefit more than two billion people.”
Zhu Congjiu, Vice Governor, Zhejiang People’s Government, said:“ In today’s highly interconnected world, Dubai and Yiwu can work together closely as twin cities to bring economic development across vast regions through their strengths as logistics and trade. We look forward to the success of ‘The Belt and Road’ Dubai Station and the ‘Straight-through Warehouse’ project in Yiwu.”