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DUBAI: 29 April, 2019. Dubai prime minister Sheikh Mohammed bin Rashid Al Maktoum has launched a new 60-million square feet 'Traders Market' to act as an international station for the Belt and Road Initiative in Dubai.

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.

DP World Belt RoadThe mega project further highlights the UAE’s key role as a strategic partner in China’s Belt and Road Initiative. It will include wholesale and retail outlets that help enhance regional and international trade through Jebel Ali.

During his state visit to the People’s Republic of China as the head of the UAE’s delegation to the 2nd Belt and Road Forum for International Cooperation in the Chinese capital Beijing, His Highness attended the signing ceremonies of two agreements. The first was signed by DP World's Group Chairman HE Sultan Ahmed bin Sulayem and Wenge Zhao, Chairman of Zhejiang China Commodities to use the ‘Traders Market’ to store and ship Chinese products to the world from Jebel Ali.

The second agreement was signed by DP World's Group Chairman HE Sultan Ahmed bin Sulayem with Ma Xuezhong, President of China-Arab Investment Fund Management Co. (Ningxia); Yu Zhiqiang, President of Winland Investment Holding Co.; and Hu Wei, China CO-OP Group President of Ocean Economic Development Co. to create a US$1 billion 'Vegetable Basket' project in Dubai to import, process, pack and export agricultural, marine and animal products to the world through the new Silk Road.

The signing ceremonies were also attended by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group and HE Dr. Ali Obaid Al Dhaheri, the UAE Ambassador to the People’s Republic of China.

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