United Arab Emirates, the emerging Middle Eastern Country
Dubai is one fastest growing cities in the world and U.A.E is silicon valley of the middle east. It's been stated that it will be the next financial hub of the middle East and will surpass Hong Kong in it's financial structure. Despite a relatively small population, Dubai's total imports exceed $14 billion. The reason is that Dubai is the major re-export centre for the region.
The emirate's non-oil imports has expanded sharply in the recent past. Many of the economies of the region served by Dubai are still at a relatively early stage of development, so there is plenty of long term scope for diversification and expansion in the future. Another important consideration is Dubai's rapidly developing role as a supplier to such emerging markets as India, the CIS, Central Asia and South Africa.
In the prosperous, but sparsely populated Gulf states, there is demand for foodstuff, high technology equipment and luxury products. But, through its re-export trade, Dubai also reaches an "outer ring" of less prosperous markets. This means there are also opportunities for manufacturers and exporters of less sophisticated equipment and mass consumer products.
It's Free Trade and no Taxes
There are no foreign exchange controls, quotas or trade barriers. Import duties are extremely low, and many products are exempt.
The emirate's transport infrastructure is unrivalled in the region in terms of size, facilities and efficiency. Its ports are served by more than 100 shipping lines and the airport by nearly 100 airlines. Also, overseas businessmen will find that their counterparts combine local and regional expertise with a full understanding of international business practices. English ranks on a par with Arabic as the main business language of business and there are plenty of foreign banks, lawyers and other advisors - as well as the Department of Tourism and Commerce Marketing, The Economic Department, Chamber of Commerce and Industry and Jebel Ali Free Zone Authority to help those wishing to enter the market.
Inevitably, the various attractions outlined above have caught the attention of manufacturers and exporters from around the world. Any exporters seeking success in the Dubai market must ensure that their products can hold their own in terms of their price, technology, design and value, just as in any other market of the world.
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