Dubai Wholesale City, a global integrated wholesale trading hub and member of Tecom Group, has signed an agreement with the China Commodity City (CCC) Group, a leading exporter of goods, in China’s Zhejiang Province.

The pact with the CCC Group, a leading exporter of goods, in China’s Zhejiang Province, is aimed at building a long-term mutual relationship and leverage possible future collaborations between the two countries, said a statement from Dubai Wholesale City.

It will also facilitate mutual trade and investment activities and the exchange of expertise, with a focus on developing wholesale trade destinations and wholesale e-commerce, it added.

As per the deal, Dubai Wholesale City will collaborate with the Municipality of Yiwu City and the government of Zhejiang Province, the largest shareholders in the Commodities City Group, in terms of investment and business development in the trade, manufacturing and logistical services sectors, said its CEO Abdulla Belhoul after signing the deal with Wenge Zhao, CCC general manager.

"China and the UAE enjoy long-standing bilateral trade and economic relations. Today, China is the UAE’s second-largest trading partner and the largest importer to the country," said Belhoul, who is on a visit to China.

“In addition, the UAE serves as the main gateway to the GCC region for Chinese products. This partnership will reinforce the UAE’s position as a trading and re-export hub for Chinese exports to the Middle East, Africa, and the Mediterranean region,” he added.

Belhoul also met Yuan Jiajun, vice governor of Zhejiang, and discussed future economic and trade relations as well as ways to strengthen mutual cooperation, particularly in relation to establishing wholesale trade platforms, and promoting joint investments and trade.- TradeArabia News Service