SINOSURE underwrites largest-ever 'overseas warehouse' project in Dubai 

China Export & Credit Insurance Corporation (SINOSURE) has recently underwritten the Yiwu Market UAE overseas warehouse trade city project in Dubai, the United Arab Emirates (UAE), with an insured amount of $13.814 million.

It is the first public overseas warehouse investment project integrating investment, construction and operation in East China’s Zhejiang Province.

It is also the largest overseas warehouse investment insurance project underwritten by SINOSURE. Located in the heart of Jebel Ali Free Zone (Jafza) in Dubai, which is close to the Expo 2020 Dubai, the project aims to forge a world-class trade service platform jointly built by Zhejiang China Commodity City Group (CCC) and DP World.

Integrating commodity showrooms, bonded warehouses, logistics transit and other functions, the platform utilizes the advantages of CCC and DP World to enhance the trade volume of companies on the platform, support the Belt and Road Initiative, further improve Chinese networking in Dubai and elevate the influence of Chinese brands.

The project covers an area of 210,000 square meters, with a reach to markets in the Middle East and North Africa regions. Despite the impact of COVID-19 on international trade, the project strengthens Chinese products’ presence in overseas markets through a “store in front of warehouse” model, which effectively facilitates foreign purchases of Chinese products.