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10 Dec

Understanding UAE economy and Trading Opportunities

What is it that UAE export market does have to offer? General trading companies utilise the economy of the home country for a profitable export. For a general trading idea, it is imperative to grasp the condition of the country and opportunities it offers. Let's try and see the unique business environment UAE offers.

• United Arab Emirates is the second largest in the Middle East with GDP of US$354 billion (AED 1.3 trillion) in 2020. But that doesn't make it stand out from all in the region. While most of the GCC ( Gulf cooperation council) countries are relying on oil trade, UAE is reforming on the way to diversification.
•UAE has business-friendly free zones and a quickly growing economy which makes it a strategic hub.
• UAE has transparent legislative environment - an attraction for investment in the region. It is reflected in its 16th rank in Ease of doing business report of World Bank.
• Constantly updated infrastructure has been another key attraction which makes it conducive to international business.

Trading opportunities:
With rising trade market, UAE has passed Saudi Arabia to become the second largest exporter in the region. It's exports are not limited to oil based commodities as is expected of a Gulf country.
Gold, silver,Electronic and electrical products, Readymade garments, Textiles , Heavy equipment, machinery spare parts, Retreaded Tyres are some of the profitable trade. Major industries located in UAE are Petroleum, petrochemicals, ship repair metals, aluminum, cement, fertilizer, construction materials etc. India , Iran, Japan are the main export partners. One can target buyers in these countries as they have biggest consumer market of UAE exports.
After the necessary know-how of country's economy, one always need an advisor.NoorCo trading AFZE is one such reliable friend where general trading in these diversified business are taken care of.

Traders need a daily routie that they love. If you don't love it, you are not gonna do it
-Scott Redler