Business Profile |
| Statistics |
 GDP: US$189.6 billion (2007).
Main exports: Crude oil, natural gas, re-exports, dried fish and dates.
Main imports: Machinery and transport equipment, chemicals and food.
Main trade partners: Japan, Korea (Rep), India, Thailand, China, USA and the EU.
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| Economy |
Oil and gas are the UAE’s’ main industries, and underpin the country’s considerable prosperity. Outside the oil and gas sector, which includes refining and the production of oil-derived chemicals, most economic activity is government sponsored, and designed to diversify the economy and reduce dependence on oil. This strategy has been reasonably successful and the oil sector’s contribution to GDP is now down to about 45%.
The economy has boomed in recent years. The IMF’s estimate for the UAE’s GDP growth in 2007 was a whopping 16.4%, keeping the country well on course as a major financial player in the region. |
| Business Etiquette |
Business entertaining is often lavish. Suits should be worn and prior appointments are essential. English is widely spoken in business circles, but translation services are likely to be available.
Office hours: Sat-Wed 0800-1300 and 1500/1600-1800/1900, Thurs 0800-1200.
Government office hours: Sat-Wed 0730-1330, Thurs 0730-1200.
All offices are closed every afternoon during the month of Ramadan. |
| Business Contacts |
Federation of UAE Chambers of Commerce and Industry
PO Box 3014, Abu Dhabi, UAE
Tel: (02) 621 4144.
Website: www.fcci.gov.ae
Dubai Chamber of Commerce and Industry
PO Box 1457, Dubai, UAE
Tel: (04) 228 0000.
Website: www.dubaichambers.ae
Each of the emirates has its own Chamber of Commerce.
Dubai World Trade Centre (Information on Conferences/Conventions)
PO Box 9292, Dubai, UAE
Tel: (04) 332 1000.
Website: www.dwtc.com
ADNEC (Abu Dhabi National Exhibitions Company)
PO Box 5546, Abu Dhabi, UAE
Tel: (02) 444 6900.
Website: www.adnec.ae |
| Conferences & Conventions |
| The UAE is rapidly establishing itself as a major conference and incentive destination, with major venues such as the Dubai World Trade Centre and Abu Dhabi’s new ADNEC Exhibition Centre catering for large events and exhibitions. A new conference centre is also planned for Al-Ain. |
