Initiatives Promoting Non-Oil Foreign Trade in the UAE

Initiatives Promoting Non-Oil Foreign Trade in the UAE

by Zaara 13, Oct 2021

The past years have been a witness to the evolutionary mindset of the United Arab Emirates, which has proved its calibre in fields like infrastructure development, international relations, socio-cultural development, and business incorporation in the UAE. The government has never hesitated to invest in making UAE an iconic destination, not only for tourists but also for businesses. Considering the vision of a diverse economy in mind, the UAE leaders have announced several new initiatives and campaigns that will drastically impact the future of the economy.

Initiatives promoting E-Commerce in the UAE

United Arab Emirates [UAE] over the past couple of years has become a very popular destination for people from around the world may it be for holidays, employment or business, UAE is one of the top favourites among many, it is also seeing rapid growth in its economy hence the government has planned many initiatives for the business growth in the region.

The UAE is well-positioned to be a hub for international trade, it also continues to grow its import and export capabilities. UAE in recent years has invested billions of dollars to build the most developed warehousing and transportation infrastructure anywhere in the world, this has been well planned by the government to provide full connectivity among land, sea and air which allows quick and efficient transfer of goods in and out of key logistical transportation hubs.

The United Arab Emirates commonly called the Emirates is a federal absolute monarchy sovereign state, the country is a federation of seven Emirates through most of the procedures and processes for import and export are similar but each Emirate may have their own rules and regulations respectively. The E-commerce sector in the UAE is actively promoted by the government because UAE is well-positioned as the key regional hub for the set-up and growth of online businesses.

E-commerce in UAE government authorities, including in certain free zones have provided a business-friendly climate through which companies can operate easily. E-commerce business in the UAE required logistics, warehousing and last-mile delivery.

A new category of activity specifically introduced by the DMCC Authority which allows a company to provide an online marketplace, the products which are sold on the marketplace may be manufactured and also sold by third parties, this sort of activity involves the online business acting as an aggregation, the business can be solely web or application-based.

Initiatives Promoting Import and Export in the UAE

Related to both free zones and onshore registration companies the process mentioned below includes importing and exporting containers of cargo by sea, and moving goods onshore from a free zone and vice versa.

Import is the process of bringing goods from a foreign country into the UAE by meeting the country’s legal requirements in terms of licensing, documents and permission including a valid trade license which must be issued by a UAE license issuing authority and being registered with the customs department.

With the same licensing aspects described above, it is the same for export, export is the process of sending goods and services produced domestically to another country or between UAE free zones and onshore companies.

Sea import process for a full container load via UAE-irrespective of the sales agreement and agreed method of payment between the two parties the exporter supplies the importer with the following original documents.

  • Original bill of lading copies
  • Commercial invoice
  • Packing list
  • Certificate of origin

Air import and export process-airports are located in metropolitan regions where there is no coastal access, landlocked countries are difficult to reach by sea, rail and even road but they can be easily accessed by air, per day international air traffic offers high frequencies and also multiple connections, most of the air shipments reach their final destination in less than 48 hours. For extremely time critical shipments, expedited services are offered and also for the goods with special requirements such as perishable or valuable goods special services granting additional protection are available.

Air shipment destined for UAE location must clear the customs at the first airport of arrival.

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Which are the most profitable small business ideas in UAE 2022?

  • Property Management
  • Childcare Business
  • Online Trading
  • Insurance Business
  • Hair Salon
  • Electronic Gadgets repairing business
  • Cleaning Services

What are the UAE government’s policies for developing the non-oil Industries?

  • The Ministry Of Industry And Advanced Technology has started Operation 300bn for boosting UAE’s economy to AED 300 Billion by 2031. Under this scheme Emirates Development Bank will allocate AED 30 Billion for the development of all non-oil industries primarily -

  1. Manufacturing
  2. Renewable Energy
  3. Agriculture
  4. Healthcare
  5. Technology
  • Khalifa Fund, a non-profit entity formed by Abu Dhabi government for aiding the growth of SMEs across UAE with a funding of AED 2 Billion. Apart from funding Khalifa Fund is helping businesses by -

  1. Financial advice

  2. Business guidance

  3. Training & skilling

  4. Technical Support

  5. Tax exemptions

  • Dubai SME is a government entity made for helping GCC national setup & establish their SMEs in Dubai. It is helping SMEs in all aspects of business, ranging from planning, launching, growing. Dubai SME is offering loans of upto AED 1 Million to SMEs.

What is the scope of freelance work in UAE in 2022?

According to a survey conducted by (a job hunting platform), it has been found that over 75%, 80%, and 85% of the employers are now hiring Freelancers in 2022 UAE.

Which industries are offering the best freelance jobs in UAE in 2022?

These are the Top 5 industries offering the best freelance jobs in UAE -

  • Graphic Design
  • Digital Marketing
  • Information Technology
  • Accounting
  • Customer Service

Which are the Top Ecommerce companies in UAE?

Here are the 7 best eCommerce companies in UAE in 2022 -

  • Amazon
  • Groupon
  • Basharacare
  • LetsTango
  • Noon
  • Namshi

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