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The Dubai Advantage
Many international businesses which are interested in developing their market in the Middle East have been lured by some attractive features offered by Dubai. The sheer size of the market in Dubai has been increasing at a steady pace. Although the United Arab Emirates has a relatively smaller population than other Middle East countries, its total imports have been registering a steady growth with the passing of each year. The impressive performance can be attributed to the fact that Dubai has emerged as the major re-export centre for the entire Middle East region. Dubai’s non-oil imports have been growing by leaps and bounds since early 80’s. These figures are certain to gain further momentum in the coming years as many of the economies of the region (which are being serviced by Dubai) are still at a relatively early stage of development. As a result, there is plenty of long-term scope for diversification and expansion. As a major supplier of goods to such emerging markets as India, the CIS, Central Asia and Africa, Dubai is well poised to further strengthen its status as the distribution hub of the Middle East. As one of the most active and outgoing markets in the region, Dubai has the potential to promote almost any type of goods and services. In a regional context, Dubai has been playing an important role catering to the increasing demand for foodstuff, high technology equipment and luxury products in the small but prosperous Gulf countries. In addition to inter-Gulf trade, Dubai also reaches an "outlying ring" of huge markets including East African countries, the CIS, Iran and the Indian sub-continent. Therefore, by establishing a base in Dubai, international businessmen, manufacturers and exporters of less sophisticated equipment and mass consumer products can also successfully find readily available buyers for their goods. The absence of any foreign exchange controls, quotas or trade barriers makes Dubai one the most attractive trading posts in the region. The fact that import duties are extremely low, and that many products are exempt, further adds to the status of Dubai as the business centre of the Middle East. As a further incentive, businessmen will be impressed by the Emirate’s efficient transport and telecommunications infrastructure - an absolute must in today’s fast moving corporate world. Dubai’s ports, considered to be one of the best in the world, are served by more than 100 shipping lines. And the Dubai International Airport, which will soon undergo a major expansion project, is served by over 70 airlines at present. Yet, one of the most unique features of Dubai is its ability to conduct international business with a local flavour. Foreign businessmen are often impressed by Dubai-based entrepreuners who are able to blend their local and regional expertise with a full understanding of international business practices. Unlike some other parts of the world, language has never been a restraining factor in Dubai’s multi-cultural trading community. English is commonly used as the main language of business in addition to almost all major dialects of the world. Would-be investors can also avail of advisory services from foreign banks, lawyers and other advisor - including the Department of Tourism and Commerce Marketing, the Economic Department, Dubai Chamber of Commerce and Industry and Jebel Ali Free Zone Authority. The various incentives offered by Dubai has already attracted manufacturers and exporters from all over the world. Therefore, any new entrants seeking success in the lucrative Dubai market must make sure that their products can compete in price, technology, design and value. Competition, as they say, breeds quality.|
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