Export-import opportunities in Dubai, UAE

Export-import opportunities in Dubai, UAE - Makebiz

The United Arab Emirates has become one of the most important centers of international trade and logistics, linking Asia and Europe, CIS and Africa. Dubai’s infrastructure with its major advanced airports, deep-water seaports and developing land network meets all global standards in logistics.

Foreign organizations from the smallest to the global and well-known are particularly interested in obtaining licenses for activities related to import and export of products. This is due to an understanding of the geographical and infrastructural advantages for the development of trade and international business.

Among other things, the UAE is a member of the World Trade Organization, so the export of goods for countries included in the WTO lists is possible at extremely favorable tariffs. Among the main exported goods are natural gas and oil, metals and diamonds. Regions for exports mainly include Japan, South Korea, Thailand, India and Europe.

There are many more imported goods: clothing and textiles, precious metals and stones, electronics and mineral fuels, food and pet products. Popular regions for imports are the Middle East, Europe, China, the United States, Japan, and Russia.

To encourage and support international trade, the region’s government has concluded a number of free trade agreements that limit tariffs on certain types of goods. In addition, dozens of agreements have been concluded for the purpose of avoiding double taxation. The Emirati government regularly introduces initiatives to simplify and enhance the ease and convenience of importing and exporting goods, such as:

  • Electronic import and export processing system.
  • Contactless customs procedures.
  • Specialized economic zones with incentives for companies.
  • Improved logistics infrastructure.

Let us note the most interesting and promising areas for investment in the industry under study:

1. a business agent for export is engaged in sending products to other countries, removing the main pain of the client on organizational moments. However, the specialist will need knowledge of the legislation in this area and the peculiarities of currency transactions.

2. Export of works of art, jewelry and interior items involves communication with collectors around the world and the selection of luxury goods suitable for the requirements.

3. A professional sourcing agent for certain goods must collaborate with local purchasing agents. In this case, attention to detail and good organizational skills are important.

4. importing machinery and electronics implies high profitability due to the possibility of supplying large quantities.

5. Broker for intermediary operations between transportation companies and customers. It takes care of all operations related to freight transportation.

6. export of precious metals is an extremely profitable investment due to the steady demand for luxury goods. However, it is worth bearing in mind the rather high competition in this area.

7. Export of automobiles and spare parts is also justified by stable demand and high profitability.

8. Import and export of aluminum can be extremely profitable for investment, but it is worth remembering the strict regulation in this industry, which may require additional approvals.

In each case, it is possible to identify the basic steps to register a business:

  • obtaining a license under the desired category of import-export operations;
  • choosing a trade name, in accordance with the UAE legislation;
  • selecting a suitable economic zone to suit the company’s objectives;
  • obtaining an import-export permit and code from the Customs Department;
  • obtaining visas for the founder and employees;
  • opening a corporate account.

Sign up for a free consultation with a company specialist and find out how to open an import-export business in the UAE.

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