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MGOVMAGAZINE
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HH Sheikh Mohammed bin Rashid Al
Maktoum said that our interest in trade is
not on the spur of the moment because the
trade is a basis of UAE prosperity, support
of present economy, and a key for future
development.
HH added that UAE with its geographical
location,
regulatory
infrastructure,
and institutional services, is the most
qualified country to lead a new growth in
international
trade.
Finally, HH said that our goal has been a
sustainable national economy as we had
not bit on the oil and we will not do in the
future.
Dubai Wholesale City area is 550 m square
feet with a cost of AED 30bn which will be
the world’ largest wholesale city. It aims
to increase the UAE’s share of the global
wholesale trade sector, which is valued at
$4.3 trillion and expected to grow to $4.9
trillion next five years.
The city comprisesmarkets for all wholesale
sectors, warehouses, shipment centers,
customs services, insurance companies,
storage solutions, and residential and hotel
units. The city drawings include permanent
international exhibitions throughout the
year. It will be connected with Jebel Ali Port
and Al Maktoum International Airport. In
addition, a logistic support will be provided
in order to connect the city with four
continents. It will be the world wholesale
capital and itwill include themost important
15 thousand international wholesalers.
International markets launch has been
announced in the city which includes
commercial centers represent products of
different countries such as India, Malaysia,
Thailand,
Turkey,
Australia,
China,
Germany, Saudi Arabia, USA, and South
America.
Dubai Wholesale City will change the
wholesale standards at an international level
through providing integrated advanced
smart services and logistic support via the
world’s biggest network.
The city will divided into strategic sectors
and
specialized
commercial
streets
such food products, building materials,
electronics, furniture, décor, machinery,
equipment, wood, cars, spare parts, texture,
and clothes.
The city also includes the biggest wholesale
e-platform in the region to enhance UAE
capacities in e-trade market expected
to grow globally from $1.672 trillion
up to $2.941 trillion in 2008 with
CAGR of 21%. UAE e-trade market
is expected to grow double of
international growth rate and
will be doubled 3 times next
three years from $2.5 m in
2015 up to $ 10bn in 2018
with CAGR of 59%.
Central Market
The new strategic
project in which
about AED 30bn
of investments
over next 10
years aims
to be an
Mohammed Al Gergawi:
The city will
contribute to
achieving UAE vision
for a post oil era