Shein and Timo threaten the trade sector

The Chairman of the Executive Board of Directors at Alshaya Group, Mohammed Abdulaziz Alshaya, said that trade “gets sick and does not die,” but the Chinese e-commerce platforms “Shein” and “Temo” may eliminate it.

He warned that the two Chinese trading platforms could weaken the trade sector if their expansion continues without fair controls.

Al-Shaya explained during his participation in the activities of the UAE-Kuwaiti Economic Forum in Dubai today, that the two companies do not employ citizens, do not rent commercial shops, and do not pay municipal fees, while they achieve large profits that are transferred to China, which puts retailers facing unequal competition.

He pointed out that the retail sector is not easy, and requires large investments and high operating costs, in contrast to the wide facilities that e-commerce platforms enjoy, calling for the establishment of fair market controls that ensure a balance between traditional commerce and e-commerce.