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Central and Eastern Europe. Central and Southern Asia. Eastern Asia and Oceania. Read more Main Industry Sectors. United Arab Emirates is the 3rd largest oil producer in the world, with large reserves. Presently, their oil and gas reserves are estimated for years of exploitation. Manufacturing activities have witneesed an unprecedented growth in the last five years, particularly in sectors such as metal processing, furniture, industrial preparation of food stuffs, aluminum production, cement and construction materials, fertilisers, petrochemical industry, fiber glass and finally real estate.
The government is trying to develop new sectors, such as tourism, financial services and real estate. In this perspective, the Emirate of Dubai has multiplied the creation of free zones and is becoming a platform for re-export in the region.
There is also a number of great cultural projects museums, especially an annex of the Louvre museum and sport projects Formule 1. UAE was nevertheless hit hard by the global economic crisis, which has caused a felt slowdown of the country's growth. Different factors are at cause: Moreover, Dubai was the hardest hit, due to its position of a highly globalized platform and very high borrowing rates.
However, the authorities have reacted. The banking sector was consolidated through state guarantees on deposits, introduction of liquidity, recapitalization of banks, and an expansionary fiscal policy to preserve investments and enhance competitiveness.
UAE is the primary recipient of direct foreign investments on the Arabian Peninsula. Although the FDI flow increased in , it decreased in and especially in This trend continued in FDI stocks are concentrated in hydrocarbons and water and electricity production. The advantages of the Emirates are the country's easy access to oil resources, low energy costs, willingness to diversify the economy and high purchasing power.
The absence of direct tax on companies excluding banks, oil companies and telecom operators and people, of exchange controls and any limitations on repatriation of capital, as well as the existence of a banking sector that is both solid and profitable and a large pool of expatriate workforce constitute its undeniable benefits.
The country's main weakness is the small size of its domestic market. Till now not much progress has been made. However you can notice the flexibility of rules of access to real estate property for foreigners in Emirates of Dubai, Sharjah and Abu Dhabi. The strengths of the country are: There are legal obstacles for foreign investments.
Moreover, the obligation for recourse to a local service agent for the branches and representative offices of foreign companies represents a limit. United Arab Emirates are amongst the world's most dynamic markets in terms of foreign trade.
It is amongst the world's 25 primary exporters and 30 primary importers of commodities. United Arab Emirates has displayed a large commercial surplus in both and , due to the raising oil prices. The main products exported by the country are hydrocarbons, natural gas, dried fish and dates. The United Arab Emirates mainly imports machinery, transport equipment, chemical products and food stuffs.
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The report provides guidance on required certificates for food products shipped to the United Arab Emirates. Agents and Distributors in the U. Overview About International Trade in the U.
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