Khaberni - Mohammad Abdul Aziz Al-Shaya, the Executive Chairman of Alshaya Group in the UAE, said that "trade gets sick but does not die," but it could be killed by the Chinese e-commerce platforms "SHEIN" and "Tmall".
He warned that the Chinese trade platforms might weaken the trade sector if their expansion continues without fair regulations.
Al-Shaya explained during his participation in the UAE-Kuwait Economic Forum in Dubai today that the two companies do not employ citizens, do not rent commercial stores, and do not pay municipal fees, while making large profits that are transferred to China, putting retail traders at an unfair competitive disadvantage.
He pointed out that the retail sector is not easy, requiring large investments and high operating costs, in contrast to the extensive facilities enjoyed by e-commerce platforms, calling for fair market regulations to ensure a balance between traditional commerce and e-commerce.
