Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United Arab Emirates
  4. NASDAQ DUBAI
  5. DP World PLC
  6. News
  7. Summary
    DPW   AEDFXA0M6V00

DP WORLD PLC

(DPW)
  Report
End-of-day quote NASDAQ DUBAI  -  08:14:30 2023-03-22 am EDT
- USD    0.00%
03/14DP World to Launch New Air Cargo Logistics Hub in Dominican Republic’s Punta Cana
CI
2022General Organisation for Social Insurance acquired 10.2% stake in Strategic Assets of DP world in UAE for $2.4 billion.
CI
2022DP World Reportedly Eyeing Takeover and Lease of Ports of Auckland Business
CI
SummaryNewsCalendarCompanyFinancialsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

DP World : Signs Agreement to Boost International Trade

07/19/2018 | 02:07am EDT

Media Release

DP World Signs Agreement to Boost International Trade

New market for traders with a build-up area of 3 million square metres in Jebel Ali Free Zone

Dubai, United Arab Emirates, 19 July 2018: An agreement to jointly construct a new 'Traders Market' at DP World's flagship Jebel Ali Port and Free Zone in Dubai on a total build up area of three million square metres has been signed between the global trade enabler and the Zhejiang China Commodities City Group, providing further impetus to China's Belt and Road Initiative.

DP World will be building the 'Traders Market' within the Jebel Ali Free Zone Area located in Jafza South next to the Dubai Expo 2020 site. The market will include clusters of traders from all over the world, offering a wide range of products at one site. They will be divided by sector, ranging from household goods, building materials and food and beverage, to cosmetics and healthcare, energy and power, and engineering and technology.

Apart from promoting the Chinese government's Belt and Road initiative, the 'Traders Market' will help Chinese, local and international manufacturers benefit from Dubai's strategic location as a business and trade hub. It will also enable trade within the GCC, MEA and India Subcontinent regions, widening market reach for goods and serving as a platform to trade at competitive prices.

The partnership complements an agreement that was signed earlier this year between DP World and the Zhejiang Seaport Investment and Operation Group (ZPG) for a 'Straight-through Warehouse' project in Yiwu, China - which is the world's largest wholesale market for small commodities - for a warehouse that will hold cargo destined for Dubai and the Middle East.

Both projects aim to boost trade between the UAE and China by offering Chinese businesses DP World's integrated logistics and trading solutions, including cargo handling at their terminals in China and Jebel Ali Port in Dubai, warehousing facilities in the neighbouring Jebel Ali Free Zone (Jafza), one-stop customs clearance facilities and trade licenses.

Jebel Ali Port and Free Zone provides companies access to a local and regional market of more than 2 billion people, supplemented by DP World's global network of 78 marine and inland terminals, which enable trade in countries that account for over 50% of the world's GDP.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: "Dubai and China have a long-standing trading history and it's essential that we develop the movement of goods in tandem with the growing needs of consumers. Today people expect to receive their products quickly and efficiently and initiatives such as these will create the trade hubs and seamless supply chain opportunities needed to capitalise on global economic growth.

"The new 'Traders Market' will provide an ideal platform for traders to showcase and sell goods in Dubai to local and international businesses. We look forward to working with the Zhejiang China Commodities City Group and will continue to support China's Belt and Road initiative and innovate for mutually beneficial development."

China was Dubai's number one trading partner in 2017, with total trade between them amounting to AED 176.5 billion last year.

-ENDS-

Disclaimer

DP World Limited published this content on 19 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 19 July 2018 05:06:07 UTC


ę Publicnow 2018
All news about DP WORLD PLC
03/14DP World to Launch New Air Cargo Logistics Hub in Dominican Republic’s Punta Cana
CI
2022General Organisation for Social Insurance acquired 10.2% stake in Strategic Assets of D..
CI
2022DP World Reportedly Eyeing Takeover and Lease of Ports of Auckland Business
CI
2022DP World Limited Announces Resignation of Patrice Trovoada as Independent Non-Executive..
CI
2022MarketScreener's World Press Review : August 19, 202..
MS
2022DP World Limited Reports Earnings Results for the Half Year Ended June 30, 2022
CI
2022Dp World Reports Sales Results for the Second Quarter and First Half Year of 2022
CI
2022Caisse de dépôt et placement du Québec completed th..
CI
2022DP World and NIIF Announces Partnership in India
CI
2022DP World Limited Announces Appointment of Independent Non-Executive Directors
CI
More news
Financials (USD)
Sales 2022 17 127 M - -
Net income 2022 1 227 M - -
Net Debt 2022 16 431 M - -
P/E ratio 2022 11,0x
Yield 2022 3,70%
Capitalization 13 471 M 13 471 M -
EV / Sales 2021 2,68x
EV / Sales 2022 1,75x
Nbr of Employees 103 000
Free-Float -
Income Statement Evolution
Managers and Directors
Ahmed Sultan bin Sulayem Group Chairman & Chief Executive Officer
Yuvraj Narayan Group CFOr, Executive Director & Deputy CEO
Mike Bhaskaran Group Chief Operating Officer-Digital Technology
Tiemen Geerts Meester Group Chief Operating Officer-Ports & Terminals
Deepak Shantilal Parekh Senior Independent Non-Executive Director
1 MarketScreener is worth more than 1000 Influencers!
100% Free Registration
fermer