iPhone | iPad
Android
Huawei
This year’s IIFA was held at the Etihad Arena
KT APPDOWNLOAD
Chinese Commodities Fair to Make Debut in Dubai Next Month
DUBAI - Traders from the world’s largest wholesale market for small commodities will exhibit in Dubai for the first time next month as emerging economies become increasingly important for Chinese exporters.
Yiwu Fair@Dubai will receive more 200 exhibitors from the eastern Chinese city of Yiwu, the centre of China’s vast small commodities industry and a beacon for tens of thousands of Middle East traders seeking products to supply to their home markets.
Despite the downturn, global demand for Chinese small commodities appears robust. Zhu said that exports from Yiwu to Dubai reached $2 billion last year while Yiwu’s wholesale market saw turnover increase 14.17 per cent to $1.65 billion in the first quarter of 2009.
“The UAE is now the leading destination for Yiwu small commodities exports, overtaking the United States in 2007. While Western markets are slowing down due to the global recession, strong consumer demand in emerging markets such as the Middle East, India and Russia offer important growth opportunities to Yiwu exporters,” said Zhu Jingyi, Communications Director of the Organising Committee of China-Yiwu International Commodities Fair while announcing the first Yiwu Fair@Dubai.
“The UAE is a vital hub for emerging markets trade and its economic ties with the city of Yiwu and China as a whole are stronger than ever. That’s why we have taken the decision to stage the first Yiwu Fair@Dubai this year, and we’re confident that exports to Dubai from Yiwu will continue their upward trend,” Zhu said.
He said that the Dubai and Yiwu have much in common: rapid development, excellent infrastructure, and a liberal and extremely cosmopolitan business environment. “Both cities are strategic hubs. Yiwu is the small commodities centre of China and Dubai is the gateway to the Middle East and consumers in emerging markets,” Zhu said.
He said: “Yiwu’s strength is its product diversity, from economically priced household goods to jewellery and luxury items. By exhibiting in Dubai, we are providing Middle East-based buyers the opportunity to source from a vast choice of well-made products to serve their home markets.”
Yiwu is located in Zhejiang Province, a manufacturing and business centre along China’s east cost, around 300 kilometres from Shanghai. It covers a total area of 1,105 square kilometers and has a population of two million.
Yiwu is today one of China’s wealthiest business centres with a GDP in 2008 of $7.2 billion. The city exports more than 500,000 containers of products to 215 countries around the world every year, including 100,000 to Dubai.
Yiwu is increasingly famous for its market, which has a staggering 62,000 stalls selling 1.7 million different kinds of small commodities. Yiwu is recognised as a national industrial base for a variety of products including pens, cosmetics, knitwear and handicrafts.
More news from
Bollywood stars turned the glam quotient up to 11
The airlines did not carry out disease vector control measures and failed to spray infected areas of their aircraft with insecticides according to specified standards, the heath ministry said
Wada is seeking a ban of up to two years after the Italian twice tested positive for traces of the banned substance clostebol in March
The Israeli military said in a statement that dozens of aircraft, including fighter jets, attacked power plants and a sea port at the two ports
Wall Street’s benchmark S&P 500 index is up 20% year-to-date
The blaze at the plant in Hosur began in an area used to store chemicals
Slow build-out can be seen in imports of servers, computers and storage systems, S&P says