Dubai Opens Smart Free Zone Market
Dubai recently opened the Middle East’s first smart free zone, the Yiwu Market, which is expected to increase trade between the United Arab Emirates and China, the Hong Kong Trade Development Council reported July 7. The zone -- located at…
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Dubai’s Jebel Ali Free Zone and established by ports operator DP World and the China Commodity City Group -- includes 324 customs-bonded warehouses with loading docks and 1,600 showrooms, the report said. The zone is also close to the Jebel Ali Port and Al Maktoum International Airport, which will allow traders to “easily move goods for import and export by air to and from their warehouses at low logistical cost,” HKTDC said. The zone includes several incentives to attract traders, HKTDC said, including no management fees for the first 27 months.