Dubai Exports facilitates five billion dirhams worth of exports

Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, has closed a highly successful year, facilitating five billion dirhams worth of exports through local firms and factories in 2012, as against three billion dirhams in 2011. Read more

MENA countries expanding tax treaty networks to encourage trade

According to experts at Ernst & Young’s MENA Tax Conference 2012 in London, MENA countries have introduced a number of measures since 2010, to increase trade and investment and counter the effects of the global financial crisis on the region. A key measure has been the significant increase in tax treaties signed with other countries. Qatar alone has negotiated over 44 treaties, and the UAE and KSA have negotiated over 28 and 22 treaties, respectively. Read more

Traders in Dubai must display prices of cattle and fresh produce

The Department of Economic Development (DED) has instructed traders in the Central Fruit and Vegetable Market and Cattle Market in Dubai to display prices of their merchandise. The move is part of DED’s efforts to protect consumer rights and ensure fair prices for essential commodities during the peak Ramadan season.

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China Sourcing Fairs opens in Dubai

China Sourcing Fairs are exclusively for importers, traders, and volume buyers

Global Sources opened opened its 6th annual China Sourcing Fairs in Dubai today to help boost trade between China and the Middle East-North Africa (MENA) region. The events will run May 29-31, 2012, at the Dubai International Convention & Exhibition Centre. Featuring seven halls of suppliers, the Fairs are: Read more

Current must-visit events for UAE traders

Made in Korea & China Sourcing Fair

Established small and medium sized enterprises and budding entrepreneurs could benefit from exploring the wealth of opportunities presented this week in the United Arab Emirates.

“Made in Korea”, a pioneering exhibition in the MENA region showcases products, services and technologies from South Korea, at the Abu Dhabi National Exhibition Centre. Read more

New electronic system for tenders launched

DoF starts publishing its tenders electronically

The Department of Finance  recently completed a project to operate electronic tendering systems and electronic registration of suppliers and contractors. The both should allow suppliers and contractors inside and outside of the UAE to electronically record and submit bids for tenders issued by DoF. Read more

USA Regional Trade Center will officially open in June

Ambassador visits USA Regional Trade Center in Sharjah, UAE to emphasize US Embassy support

The United States Ambassador to the UAE, Mr. Michael Corbin, visited the USA Regional Trade Center (USARTC) for a tour of the facility and to discuss the USARTC’s role in creating business opportunities for US companies.

Ambassador Corbin was accompanied by Mr. Robert Bannerman, Principal Commercial Officer at the U.S. Consulate, Dubai; and Mr. Jude Ahkidenor, Agriculture Attaché. The Ambassador met with the USARTC team and reiterated the US Embassy’s support of the Center’s goals to create new business opportunities for US companies in the Middle East North Africa (MENA) region and to increase bi-lateral trade between the US and UAE.

During the visit, Ambassador Corbin toured the USARTC facility and received a briefing about the Center’s current exhibition featuring the Specialty Equipment Marketing Association (SEMA), and its future exhibition including GE Mubadala Finance, Boeing, Parsons, Northrop Grumman and Jelly Belly, which will demonstrate the strength of US products and services in the region.

“The US Embassy and the American Consulate support the initiatives made by the USA Regional Trade Center and we are looking forward to their success and to more American companies coming to Sharjah.” said Ambassador Corbin.

In his comments on the visit, Mr. J.S. Solaiman, CEO of the Center, said: “We are extremely privileged to welcome HE Michael Corbin, the US Ambassador to the USA Regional Trade Center. We sincerely appreciate Ambassador Corbin’s initiative as we rely on the ongoing support given by the US Embassy team. Our goal is to play a significant role in increasing business opportunities and trade between the US and the UAE in near future.”

The USA Regional Trade Center, a one-stop-shop for US companies wanting to establish trade with the UAE and the region, was launched in November 2011 and its mission is to facilitate business and specifically trade between US Small and Medium Enterprises (SME’s) and the Middle East & North Africa Region (MENA) and subcontinent with a particular emphasis on the UAE and Gulf Cooperation Council (GCC) countries. In addition, the USARTC aims to foster and encourage cultural understanding between the USA and the Arab world.

Dubai traders seeking solutions in tough times

Prices became uncompetitive, because of increased administrative and operational costs

Fierce competition from counterparts in other regions

The current global economic downturn could spell potential disaster for businesses, manufacturers, traders and exporters based in Dubai. Whether it’s a minor or a major disaster in 2012, business people remain concerned about their prospects and the business strategies they should adopt. Read more

Electronic System for Goods Monitoring launched in UAE

His Excellency Sultan Bin Saeed Al Mansoori, Minister of Economy has launched today during the 1st meeting of the Supreme Committee for Consumer Protection for 2012, the Electronic System for Goods Monitoring which connects the Ports & Customs and the Ministry of Economy and centres of major retailers, enabling the Ministry to counter any attempts at potential monopoly. Read more

MENA trade with Russia, India and China set to grow

MENA trade with US, EU, Japan and Rest of Americas set to lag global average

Ernst & Young’s Emerging Markets Forum 2012 projects growing trade with emerging markets

The Middle East and North Africa (MENA) trade flows will grow fastest with Russia, India and China over the period 2012 to 2020, according to Ernst & Young’s forecast ‘Trading places: The emergence of new patterns of international trade,’ in conjunction with Oxford Economics. Beating the global average of trade growth that is set at 9.4% per annum, MENA trade with Russia will grow at 14.4% p.a., with India at 13.5% and with China at 12.5% through to 2020. On the other hand, annual MENA trade growth with US (8.4%), EU (7.7%) and Japan (7.3%) will lag the global trade growth average of 9.4% p.a. Read more

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