The Dubai Yiwu Market. [Photo/zgyww.cn]

The Dubai Yiwu Market has emerged as a pivotal hub for international trade with the establishment of the Dubai International Consumer Goods Expo (DICPE).

This development was highlighted at the 2024 China-Arab Entrepreneurs Summit in Abu Dhabi, attended by over 200 influential figures from China and several Arab nations.

The summit witnessed the historic signing of an agreement between Jebel Ali Free Zone's Mohammed Al Ameri and Zhejiang's Newcomer Corp, marking the beginning of the DICPE project. This initiative is set to create a dynamic trade platform that strengthens China-Arab trade ties.

The Dubai Yiwu Market, a strategic collaboration between Zhejiang China Commodities City Group Co Ltd and DP World, represents Yiwu's first foray into international markets. The project's initial phase sprawls over 200,000 square meters, with a construction area of 157,000 sq m. It will cater to a consumer base of nearly 1 billion people from the Middle East, North Africa, and parts of East Africa.

Its advantageous location, a mere 15-minute drive from Al Maktoum International Airport and Jebel Ali Port, ensures seamless logistics and transshipment. The market's proximity to major tourist attractions also positions it as a magnet for millions of global visitors and business professionals every year.

The DICPE is set to become a permanent feature at the Dubai Yiwu Market, hosting an array of international consumer goods. It aims to become a nexus for industry players worldwide, connecting producers, suppliers, distributors, and consumers, thereby propelling the global consumer goods sector forward.