UAE Targets Free Trade Pacts with 103 Countries
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UAE Targets Free Trade Pacts with 103 Countries

UAE is gearing up to sign Comprehensive Economic Partnership Agreements (Cepa) with 22 countries and five economic blocs to cover a total of 103 countries, representing up to 95% of total global trade. The UAE has already signed pacts with India, Indonesia, Israel, and Turkey, with negotiations with Chile, Vietnam, Ukraine, Kenya, Pakistan, and Thailand set to begin soon.

To ensure that these negotiations reflect the private sector’s concerns and priorities, the UAE Ministry of Economy has launched a survey aimed at business owners, industrialists, and entrepreneurs to provide their insights and inputs. According to a statement from the Ministry, the survey is available to all interested parties and will assist in defining the scope of talks with Chile, Vietnam, Ukraine, Kenya, Pakistan, and Thailand, ensuring the most significant gains from the latest set of agreements.

UAE CEPA Timeline
UAE CEPA Timeline

Why the UAE is Seeking Free Trade Pacts

Free trade pacts bring about a plethora of benefits for businesses, including increased access to markets, reduced trade barriers, and the elimination of tariffs. Businesses can leverage these free trade pacts to expand their operations into new markets, increase their customer base, and ultimately grow their revenue. For instance, with the Cepa between the UAE and India, Indian businesses can now access the UAE market without having to pay high tariffs or navigate complex trade barriers. This translates to a better business environment for Indian businesses, ultimately leading to increased exports and revenue.

As a business setup company in the UAE, Skwer Group can help businesses take advantage of these free trade pacts. By setting up a company in the UAE, businesses can access the country’s strategic location, strong transport and logistics infrastructure, and favorable business environment. Skwer Group offers a range of services, including company formation, visa assistance, and investment and financial advice, to help businesses establish and grow their operations in the UAE.

How to Leverage Free Trade Pacts

Businesses looking to leverage these free trade pacts should start by conducting market research and identifying the markets that align with their business objectives. They should then develop a comprehensive strategy that outlines the steps required to enter these markets successfully. The strategy should consider factors such as the local business environment, regulatory requirements, and cultural differences.

Once the strategy is in place, businesses should partner with a business setup company in the UAE, such as Skwer Group, to establish a presence in the UAE. Skwer Group can provide the necessary assistance and advice to ensure that the business is set up correctly and that all legal and regulatory requirements are met. Once the business is established in the UAE, it can then leverage the free trade pacts to expand its operations into new markets and increase its revenue.

In conclusion, the free trade pacts that the UAE is signing with various countries and economic blocs present a significant opportunity for businesses looking to expand their operations into new markets. With the right strategy and the assistance of a business setup company in the UAE, businesses can take advantage of these free trade pacts to grow their operations and increase their revenue. Contact Skwer Group at info@skwergroup.com to learn more about how they can help your business take advantage of these free trade pacts.

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