Bloomberg/Joachim Affeldt

Economy

China to invest $3.4 billion in Dubai for trading initiative

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The country will invest $2.4 billion in a 60-million square-feet 'Traders Market', an international station for the Belt and Road Initiative in Dubai.

Sunday 28, April 2019 BY KUDAKWASHE MUZORIWA

China plans to invest $3.4 billion in two Dubai-based trading facilities.

DP World stated that the mega project further highlights the UAE’s key role as a strategic partner in China’s Belt and Road Initiative.

Additionally, the Chinese partner in the new market, located opposite the Expo 2020 site, will invest $2.4 billion in using the station to store and ship Chinese products from Jebel Ali to the world.

The Traders Market will include wholesale and retail outlets that help enhance regional and international trade.

DP World also signed an agreement with China to create a $1 billion project in Dubai to import, process, pack and export agricultural, marine as well as animal products.

 

TAGS : DP World , Belt and Road Initiative, Expo 2020, Traders Market

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