The United Arab Emirates - An Open Trading Hub

by Zaara 01, Feb 2021

The United Arab Emirates - An Open Trading Hub

The UAE has changed drastically over the past three decades, becoming a major business center with a dynamic and diversified economy. The country enjoys a strategic location and serves as the biggest re-exporting center in the Middle-East and GCC countries.

As the leading commercial hub serving the Middle-East, South Asia, Africa, the Emirates (especially Dubai) continues to play a central role as regional tourism, logistics, and trade hub.

Dubai, one of the most preferred locations for investors and businesses worldwide, has proved itself as UAE’s VIC (Very Important City). Dubai’s strategic location is one of the significant drivers of inter-regional trade with Africa. The commercial transparency and ease of doing business in Dubai foster international trade between Africa and the UAE.

The statistics from the Dubai Chamber of Commerce and Industry shows that trade-relations between Dubai and Africa amounted to Dh577 billion from 2012 to 2016. About 95% of Dubai’s Gross Domestic Product is non-oil based, and it is estimated that non-oil trade relations with Africa are worth over $19.1 billion. 

Dubai has become a getaway for new businesses in Africa to access opportunities in new markets.

Here are a few factors that make the UAE an ideal trading hub.

1. Business-Friendly Environment

The UAE is the most promising business setup location of its investors due to its economic stability and security. Its global free-trade agreements ensure solid ties with most of the developing and developed commercial nations. The UAE also offers its international business community unbeatable banking and financial services, world-class infrastructure, and investor-friendly trade policies to help their business grow and flourish.

2. Liberal Tax-Laws

A country that marks zero or nominal personal, professional, and corporate taxes, the Emirates is touted as the tax havens of the world. Its open economic system and tax-free trade policies make establishing a business in UAE a cherished proposition.

3. Extensive Foreign Trade Network

UAE offers an extensive choice of potential global marketing outlets for trading your goods and services. It’s friendly importing, exporting, and re-exporting relations with significant economies of the world make it an ideal trading hub for a variety of businesses, including trading, import, export, logistics, hospitality, tourism, event management, construction, financial services and so on.

So, whatever be your area of expertise, the UAE proves to be the best trading hub and ultimate investment destination for you.

UAE - Open for Business

With reputable regulation, an ultra-low tax environment, and a government hungry for foreign investment, the UAE has sculpted itself into both a comfortable and economically efficient business habitat. As investments increase ahead of Dubai’s hosting of the World Expo in 2020, real estate prices become more affordable. As African markets continue to show promise, the UAE gives a stable platform for businesses and investors with global ambition.

We at Commitbiz can help you set up your business in the UAE. We will help you get through all the registration and legal formalities to help you smoothly sail through various phases of company incorporation. Our consultants have years of experience in this field and can make the process hassle-free. Contact us today for more information.