Blue Ocean Global Group, a Dubai-based diversified business conglomerate, said the $3.4-billion agreements signed between the UAE and China during the recent high-level visit by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is set to boost two-way trade to $70 billion next year.

 

During Sheikh Mohammed's visit to Beijing, major deals were signed and investments including the launch of the 60-million-sq-ft station at the new Silk Road in Dubai for Expo 2020.

 

Chinese firm Yiwu will invest $2.4 billion to use the station for storing and transporting Chinese goods from Jebel Ali to the world, it stated.

 

"We launched the 60-million-sq-ft 'Traders Market', an international station for the Belt and Road Initiative in Dubai opposite to Expo site. Our Chinese partner will invest $2.4 billion in using the station to store and ship Chinese products from Jebel Ali to the world," remarked Sheikh Mohammed in a tweet.

 

THe UAE premier also announced plans for a $1-billion Vegetable Basket, funded by the China-Arab Investment Fund which will import, process and pack agricultural products, marine and animal products and export them all over the world.

 

The deal will position Dubai well in China’s planned One Belt One Road initiative where Dubai will be a major supply link to the initiative, he added.

 

Welcoming the announcement, Shahzad Ahmed, the chairman and CEO of Blue Ocean Group, said: "The UAE-China deal will boost the UAE economy as well as the shipping, logistics, transports and distributions sector of this region a lot."

 

"The 60-million-sq-ft Traders Market that will be built opposite to the Expo location which will include large logistics warehouses and wholesale retail outlets, will enhance export and import greatly," he noted.

 

Blue Ocean Global Group has recorded more than 20 per cent growth year-on-year for the last five years, despite challenging global economy.

 

“UAE has built itself with great expertise and resources. And its strategic position as a global business hub has given boundless opportunities to businesses like ours, to grow at a faster rate," remarked Ahmed. 

 

"I am really grateful to the UAE government for taking this initiative, which will not only give us benefits, but also will promote international efforts to boost the global economy as a whole," he added.

 

Blue Ocean Global Group has an omni channel market presence in GCC, Middle East, Africa, Indian Subcontinent, Australia and New Zealand that specialises in distribution and marketing of telecommunications and consumer electronics products.-TradeArabia News Service