Exporting to the United Arab Emirates
Export opportunities for Spanish companies in the United Arab Emirates
- Excellent geographic location.
- One of the countries with the greatest political security and stability in the region.
- Major funds of sovereign wealth.
- Flexible, inexpensive labour market.
- Growing internal and regional market.
- Free flow of capitals.
- Low taxation.
- Multiple construction, engineering projects and consulting during the tender phase.
- Juridical-economic opacity.
- Excessive bureaucracy in administrative formalities.
- Political crisis in certain neighbouring countries.
There are opportunities in:
- civil works, modernisation and expansion of infrastructures.
- hotel and restaurant sector.
- chemical sector.
- environmental sector (renewable energies).
- The measures adopted by the government, with a view to liberalising the market and diversifying the country’s economy, have boosted foreign investment, which has led to GDP growth rates of over 5% over the recent years.
- The IMF projection for the coming years is of a growth of over 3%.
United Arab Emirates
Hassanicor Bldg. – Office 104 1st Floor
Al Barsha First, Sheikh Zayed Road
Manager: Víctor Argüello
Tel. (+971) 43 996 860
Form of government
UAE dirham (AED)
1 euro = 5.06 AED (January 2014)
5.5 million (2012)
Winter +3 hours; Summer +2 hours
Banco Sabadell in the UAE
Banco Sabadell, via its representative office in Dubai, main financial and services city of the United Arab Emirates, offers a broad knowledge of the region and is the first Spanish bank to establish itself in the Persian Gulf area. BS has correspondent relations with most of the financial entities in each country, as it has operated in the area for over two decades, first in Beirut and now in Dubai. BS has business lines with local banks to simplify foreign trade operations for Spanish companies.
Banco Sabadell in the UAE:
- introduction of Spanish companies in the local market and banks.
- guidance on multiple financial products: documentary credit, documentary remittances, collateral and guarantees, international reverse factoring, risk hedging….
- support for projects and investments in the UAE.
- ongoing contact with Spanish companies, local companies, agents, and customers.
- transaction monitoring.