The UAE is committed to maintaining high-quality products in its local market, discouraging the dumping of low-quality goods. This stance is reinforced by Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, who emphasized the importance of ensuring that products exported from the UAE are of high quality. This approach not only benefits domestic consumers but also enhances the reputation of UAE-made products in international markets.
The UAE has strategically signed Comprehensive Economic Partnership Agreements (CEPAs) with numerous countries, including India, Indonesia, Israel, Turkey, and Georgia. These agreements significantly reduce tariffs and customs duties, creating a more favorable environment for trade in goods and services. By leveraging CEPAs, local companies can explore new markets and benefit from streamlined dispute resolution processes, which help avoid lengthy legal battles.
To support manufacturers, the UAE ensures access to essential raw materials and a sustainable supply of power and utilities. The regulatory environment is designed to be stable and supportive, with minimal changes to laws and regulations that might disrupt businesses. This ecosystem encourages manufacturers to produce high-quality products that can compete effectively in both local and international markets.
The ‘Make it in the Emirates’ initiative plays a crucial role in enhancing the competitiveness of UAE products. Dr. Farah Al Zarooni, Assistant Undersecretary for Standards and Regulations at the Ministry of Industry and Advanced Technology, highlighted that CEPAs offer valuable opportunities for the private sector to access new markets. The initiative ensures that UAE products are not less competitive than foreign ones, fostering a collaborative environment among different initiatives.
As geopolitical dynamics continue to evolve, the UAE is positioning itself to capitalize on new trade opportunities. Juma Al Kait noted that some traditional markets may no longer be as beneficial due to global changes, making CEPAs crucial for finding alternative markets and enhancing the UAE’s economic competitiveness. The UAE’s foreign trade grew significantly in 2024, reflecting the success of its strategic economic policies.
