Business in the United Arab Emirates

The objectives of the subject “Foreign Trade and Business in the United Arab Emirates (UAE)” are the following:

1. To analyse the Emirati Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the United Arab Emirates
3. To explore the Emirati trade relations with the country of the student
4. To know the Emirati Free Trade Agreements (FTAs)
5. To examine the profile of Emirati businesspeople and companies
6. To know the Emirati development funds
7. To develop a business plan for the Emirati market

Emirati Preferential Access and Free Trade Agreements

1. The United Arab Emirates and the Arab Economic Area
2. Cooperation Council for the Arab States of the Gulf (GCC)
   1. India-United Arab Emirates (GCC) Agreement
   2. European Union-United Arab Emirates (GCC) Agreement
   3. Australia-Gulf Cooperation Council (FTA)
   4. European Free Trade Association-GCC
   5. Gulf Cooperation Council (GCC)-Singapore Free Trade Agreement (FTA)
3. Indian-Ocean Rim Association (IORA)
4. Islamic Trade Preferential System (TPS-OIC)
5. Free Trade Agreements (FTA) with India and the European Union (EU)
6. Morocco-United Arab Emirates Free Trade Agreement
7. Greater Arab Free-Trade Area (GAFTA)

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO Agreement on Sanitary and Phytosanitary Measures (SPS)
   2. WTO General Agreement on Trade in Services (GATS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)
3. International Road Transport Union (IRU)
   1. TIR Convention
   2. Guidelines on Safe Load Securing for Road Transport
4. International Maritime Organisation (IMO)
   1. International Convention for Safe Containers (CSC)
   2. Convention Relating to Temporary Admission (Istanbul Convention)
5. Customs Convention on Containers (CCC, UN) - not a member

Islamic Organisations

1. Islamic Development Bank (IsDB)
2. Economic and Social Commission for Western Asia (ESCWA)
3. Organisation of Islamic Cooperation (OIC)
   1. Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC)
   2. Islamic Chamber of Commerce and Industry (ICCI)
   3. Islamic Centre for Development of Trade (ICDT)
   4. Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC)
4. Arab League (LAS)
5. Summit of South American-Arab Countries
6. Asia-Middle East Dialogue
7. Arab Trade Financing Programme (ATFP)
8. Arab Development Funds
9. Afro-Arab Cooperation
10. Arab Bank for Economic Development in Africa (BADEA)
11. Arab Gulf Programme for United Nations Development Organisations (AGFUND)

Global Organisations

1. Asia Cooperation Dialogue (ACD)
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organisation (WIPO)
3. World Bank (WB)
4. World Trade Organisation (WTO)
5. International Monetary Fund (IMF)

The United Arab Emirates.

1. The United Arab Emirates (UAE) is a constitutional federation of seven emirates; Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah and Fujairah
2. The United Arab Emirates federation was formally established in 1971
3. Emirati population: 5.8 million people
4. Emirati Currency: Dirham
5. The United Arab Emirates is an elective and Presidential Federal Constitutional Monarchy
6. Capital of the United Arab Emirates: Abu Dhabi
7. Largest city of the United Arab Emirates: Dubai
8. Area of the United Arab Emirates: 83,600 square kilometres
9. Independence of the United Arab Emirates: 1971 (from the United Kingdom)
10. Official language of the United Arab Emirates: Arabic
11. Borders of the United Arab Emirates: Oman and Saudi Arabia.
    1. Maritime borders with Iran and Qatar

Religion in the United Arab Emirates:

1. Sunni Islam
2. Fiqh (Islamic Jurisprudence): Maliki

Economy of the United Arab Emirates

The United Arab Emirates belongs to the Arab Economic Area (Islamic Civilisation).

The economy of the United Arab Emirates is 62.8% free (63rd freest economy in the World - Heritage Foundation).

1. The United Arab Emirates is a Frontier Market
2. The United Arab Emirates (UAE) ranks seventh in the Middle East/North Africa region (MENA)
3. Notwithstanding the effects of the global financial crisis, the economy of the United Arab Emirates remains robust, protected by significant foreign financial assets obtained in the age of high petroleum revenues
4. Petroleum revenue of the United Arab Emirates represents a small proportion of the GDP.
5. The logistics sector of the United Arab Emirates represents 10% of the non-petroleum gross domestic product
6. The Port of Dubai are the third largest re-export hub (after Hong Kong and Singapore)
7. The main economic sectors of Dubai are tourism, services (Information Technology, international logistics, and international finance)
   1. New Dubai International Financial Centre
8. The currency of the Emirates: UAE dirham (AED)

International Trade of United Arab Emirates.

As the leading regional international hub, the Emirate of Dubai offers access to a regional and local market of exceptional business potential for foreign companies:

1. A large market: 17 billion dollars in imports annually
2. A growing market: imports of Dubai have duplicate since 1989
3. A strategic location at the heart of one of the richest regions in the World, linked by 170 shipping lines and 86 airlines
4. A diversified market: business opportunities for products and services exporters
5. Dubai is an open market without exchange controls, quotas or international trade barriers

Dubai presents huge business opportunities for the international trade, transport and regional distribution, manufacturing, and regional branch.

EENI delivers to HRH Prince Alwaleed bin Talal a Master Honoris Causa