The Dubai Market
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The Dubai Market
International businesses interested in developing their trade with Dubai will find that the market has a number of attractive features, as follows:
- Large. Despite a relatively small population, Dubai's total imports in 1994 exceeded $14 billion. The reason is that Dubai is the major re-export centre for the region.
- Growing. The emirate's non-oil imports expanded by 200% between 1986 and 1994. Many of the economies of the region served by Dubai are still at a relatively early stage of development, so there is plenty of long term scope for diversification and expansion in the future. Another important consideration is Dubai's rapidly developing role as a supplier to such emerging markets as India, the CIS, Central Asia and South Africa.
- Diversified. There is potential for almost any type of goods and services. In the prosperous, but sparsely populated Gulf states, there is demand for foodstuff, high technology equipment and luxury products. But, through its re-export trade, Dubai also reaches an "outer ring" of less prosperous markets. This means there are also opportunities for manufacturers and exporters of less sophisticated equipment and mass consumer products.
- Free. There are no foreign exchange controls, quotas or trade barriers. Import duties are extremely low, and many products are exempt.
- Accessible. The emirate's transport infrastructure is unrivalled in the region in terms of size, facilities and efficiency. Its ports are served by more than 100 shipping lines and the airport by 65 airlines. Also, overseas businessmen will find that their counterparts combine local and regional expertise with a full understanding of international business practices. English ranks on a par with Arabic as the main business language of business and there are plenty of foreign banks, lawyers and other advisors - as well as the Dubai Commerce and Tourism Promotion Board, The Economic Department, Chamber of Commerce and Industry and Jebel Ali Free Zone Authority to help those wishing to enter the market.
- Competitive. Inevitably, the various attractions outlined above have caught the attention of manufacturers and exporters from around the world. Any exporters seeking success in the Dubai market must ensure that their products can hold their own in terms of their price, technology, design and value, just as in any other market of the world.
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