UAE looks to Asia-Pacific partners to accelerate foreign trade growthAuthor businessconsultantsdubai
No country is ever self-sufficient in all the resources that it requires. It is for this reason that countries indulge in trade and maintain relationships with other countries in order to fulfil their needs.
In recent times, the word “international markets” has been used to refer to access to different products and services for a country and countries have indulged in talks and diplomatic relationships to get that access to the products and services being traded in the international market. The word is also used to refer to the opportunity to buy products and services that are offered by other countries for different prices, which also encourages healthy competition.
Trade relations with Asia-Pacific
The UAE has maintained strong relations with many countries in the world, especially the West. It is for this reason that the Western world was able to invest in the UAE and open businesses their and expand in Asia. However, the UAE is now heading towards Asia-Pacific for good trade relations as well. Today, a country cannot remain isolated and it needs to keep its options open when it comes to trade.
The UAE wants to grow foreign trade with the help of its partners in the Asia-Pacific region. Trade with countries in that region accounted for roughly 42% of UAE’s total non-oil trade in the first three quarters in 2018, which makes the region the biggest trading partner of the UAE, taking the UAE’s total non-oil trade to Dh460.6 billion during that period.
Issues like partnerships, trade and foreign direct investments have always been part of the discussions between UAE and countries in Asia-Pacific. At the end of 2017, FDI from China, the UAE’s biggest trading partner in Asia, stood at $9.1 billion. The non-oil trade between the two countries is expected to increase to $70 billion by 2020 from $53.3 billion in 2017.
What can investors do?
This obviously means that the people in the UAE, whether locals or foreigners, will have the opportunity to open up new businesses and be part of the increase in trade with countries in Asia-Pacific. Investors would want to keep a close eye on the areas that the trade might increase in so that they can invest in the relevant industries and make the most out of the profitable business opportunities in UAE that they get.
A company setup in Dubai is what investors and entrepreneurs need at the moment. The process to establish a company setup in Dubai can take time and a lot of effort.
You will have to arrange for a lot of things like the right documents and have the right knowledge about business opportunities in UAE, types of companies, UAE business laws and information on what type of company would suit you better if you are to take advantage of the increase in trade. For your business in Dubai you will also have to find the right suppliers of raw material and services. You will also have to choose a suitable location for setting up your office so that access to required facilities is as easy as you would like.
Business Setup Dubai is a professional consultancy which will provide you with all services related to business in Dubai that you require. Whether it is core services like business registration and company formation, or support services like visa processing, product registration, and documentation processing, the business consultants in UAE will make things easy for you. By helping their clients with documentation and legal paperwork, the business consultants in UAE make business setup easy.
We will help you take advantage of trade opportunities. Call us to starting working on your plan today.