United Arab Emirates
The United Arab Emirates (UAE) is a federation of seven states that has grown from a quiet backwater to one of the Middle East’s most important economic centers.
The UAE has diversified and has become a regional trading and tourism hub. UAE firms have invested heavily abroad.
The United Arab Emirates is situated in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia; it is in a strategic location slightly south of the Strait of Hormuz, a vital transit point for world crude oil.
UAE in Brief:Capital:
Abu Dhabi
Largest city:
Dubai
Languages:
Arabic (official), Persian, English, Hindi, Urdu
Currency:
U.A.E. dirham
Time Zone:
(GMT+4)
UAE & Logistics:
The federation’s economy is dominated by the petroleum produced primarily in the Abu Dhabi emirate. The wealthiest of the emirates, Abu Dhabi contains one of the largest concentrations of the world’s proven oil reserves and contributes a significant portion of the national budget. The emirate of Dubai, whose economy is centered more on business than on oil, serves as a commercial and financial hub for the region and leads the country in economic diversification.
The logistics industry in the UAE offers several unique strengths, including its strategic location between Asia and the western countries, a world-class infrastructure, and a progressive non-bureaucratic Government that has played an active role in developing the logistics industry as well as the Dubai logistics companies.
The container traffic at Jebel Ali seaport in Dubai is expected to expand at a CAGR of more than 6% over the period 2017 and 2022. In addition, the Khalifa Port in Abu Dhabi will witness a growth of over 13% in container traffic while the shipping port at Sharjah in UAE is expected to register a CAGR of over 3% in the same forecasted period. This combination of factors is likely to augment the growth of most of the leading Dubai logistics companies.
The top Imports of UAE are:
- Gold ($17.2B)
- Jewellery ($10.5B)
- Cars ($8.62B)
- Diamonds ($8.32B)
- Refined Petroleum ($8.16B)
The top Exports of UAE are:
- Crude Petroleum ($36.4B)
- Gold ($27B)
- Refined Petroleum ($19.1B)
- Diamonds ($8.22B)
- Petroleum Gas ($6.97B)
- Zayed Port – This port in Abu Dhabi city was the emirate’s main general cargo port for 40 years. Currently, it is dedicated for cruise liners.
- Mina Rashid – This ports in Dubai city are operated by DP World and play a pivotal role in the trade in the UAE.
- Jabel Ali – This ports in Dubai city are operated by DP World and play a pivotal role in the trade in the UAE.
- Zayed Port – This port in Sharjah is the only natural deep water port in the region, with a strategic geographical position for deep-sea container trade.
- Mina Saqr in Ras Al Khaimah
- Fujairah Port – It is a multi-purpose port which is strategically located at the Gulf of Oman.
- VAT EDI
- VAT Report
- EDI-DP Trade
- Import/Export Manifest
- Bill of Entry-Follow-Up Calender
- CDR/SG Transaction List
- Commercial Invoice as per Dubai Customs
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