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Discussions in progess at the DWSC

Dubai Wholesale City in bid boost trade with Spain

DUBAI, August 21, 2016

Dubai Wholesale City (DWSC), the largest global market for wholesale products, and a visiting delegation from the Spanish embassy in the UAE recently discussed emerging opportunities and key challenges in building synergies.

Abdulla Belhoul, CEO of Dubai Wholesale City, and senior officials from DWSC welcomed Victor Suanzes, Commercial Attaché at the Spanish embassy in the UAE and Luis Cárdenas Gálvez, international trade and investment advisor at the Economic and Commercial Office of Spain in Dubai.

Belhoul provided the visitors with an overview of DWSC’s vision and mission, as well as its strategic plans for short- and long-term development. Highlighting Dubai Wholesale City’s macro role as a global hub for wholesale trade, he outlined the key mandate of the newly launched city and the facilities provided to tenants. He also underlined its ambition to emerge as a major contributor to the UAE’s economic diversification process.

The CEO also reiterated the importance of fostering collaborations between the public and private sectors in both countries in enhancing overall bilateral trade, economic and investment relations. He invited Spanish businesses and companies to benefit from the investor-friendly environment offered by Dubai Wholesale City that complements the state-of-the-art infrastructure, superior network of roads, ports and airports, and enabling regulatory framework of the UAE.

Pointing out that Dubai Wholesale City is keen to meet with Spanish businessmen, organizations and companies to leverage lucrative opportunities for existing and future partnerships, Belhoul said: “We are pleased to step-up cooperation with Spanish companies. Spain is a unique trading partner for the UAE, and bilateral trade volumes are estimated at € 2 billion per annum. The UAE is the most prominent center for re-export of Spanish products to the region.”

“Spanish businesses can take advantage of our integrated services and facilities to achieve tremendous growth locally, regionally and globally. Dubai Wholesale City serves as the ideal partner of choice in supporting these companies to achieve their business objectives,” he added.

Suanzes asserted that the main aim of the Office for Economic & Commercial Affairs of the Embassy of Spain is to support Spanish companies working in various countries across the world and help them establish regional headquarters in strategically important areas. He noted that Dubai Wholesale City is a promising project that carries potential for tremendous future growth, and that the Office for Economic & Commercial Affairs is keen to collaborate with DWSC to strengthen trade and economic ties between Spain and the UAE.

The economy of Spain ranks 14th globally in terms of GDP, and is the fourth-largest economy in the Euro Zone. According to statistics issued by the Ministry of Economy in the UAE, the UAE accounts for 40 Spanish companies, 73 Spanish commercial agencies and 1,456 Spanish brands.

Set to span over 550 million sq feet once complete, with an expected development cost of Dh30 billion ($8.1 billion) over 10 years, Dubai Wholesale City aims to increase the UAE’s share in the global wholesale trading sector. – TradeArabia News Service




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