United Arab Emirates

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Coat of arms: the emblem was officially adopted in 1973 and later modified in 2008. It is similar to the coats of arms and emblems of other Arab states. It consists of a golden falcon (Hawk of Quraish) with a disk in the middle, which shows the UAE flag and seven stars representing the seven Emirates of the federation. The falcon has 7 feathers also representing the 7 Emirates. The falcon holds with its talons a red parchment bearing the name of the federation in Kufic script.
Flag: contains the Pan-Arab colors red, green, white, and black. It was adopted on December 2, 1971.
 
  • Anthem: «ʿĪshī Bilādī» was officially accepted as the national anthem of the United Arab Emirates after the formation of the country in 1971.
  • Official languages: Arabic.
  • Geographical location: it is a country in Western Asia at the southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east and Saudi Arabia to the south, as well as sharing maritime borders with Qatar to the west and Iran to the north. 
  • Administrative divisions: the country is is a federation of seven emirates consisting of Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain.
  • Capital: Abu Dhabi.
  • Governance: politics of the United Arab Emirates takes place in a framework of a federal, presidential, and a constitutional monarchy. The United Arab Emirates is a federation of seven constituent monarchies: the Emirates of Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. According to convention, the ruler of Abu Dhabi is the President of the United Arab Emirates and the head of state, and the ruler of Dubai is the Prime Minister of the United Arab Emirates, the head of the government.
  • Population: 8.48 million. 
  • Currency: UAE dirham.
  • GDP: $370 billion.
  • Time zone: GMT +4.
  • Telephone code: +971.
  • Barcode: 629.

 

Trade and economic cooperation between Belarus and the United Arab Emirates

The UAE has the best business environment among all Gulf states due to its developed infrastructure and investment climate. It has become a business hub in the Middle East in the past decade.

The UAE is a global transport hub, located at the crossroads of many trade routes of the West and East, so it plays a leading role in passenger and cargo traffic. The country's economy is characterized by a high level of openness, development of the industrial sector and growth of foreign trade. But it should be noted, that it is dependent on the oil extracting industry, which share in GDP is gradually decreasing.

The UAE has traditionally been the main trading partner of the Republic of Belarus in the Gulf countries.

According to the results of 2018, the export of the Republic of Belarus to the United Arab Emirates amounted to $57.9 million or 73.6% compared to 2017, import — $14.2 million or 120.6% to 2017.

Main export items:

  • Trucks;
  • Antioxidants / inhibitors / thickeners;
  • Furniture;
  • Oil products;
  • Synthetic tow threads;
  • Synthetic non-combed fibers.

The main import items:

  • Plates / sheets / film of plastic;
  • Propylene polymers;
  • Ethylene polymers;
  • Petroleum products.

In January — April 2019, Belarus' exports to the UAE amounted to $14.6 million or 58.6% compared to the same period in 2018. The main export items were uncombed synthetic fibers, antiknock agents, antioxidants, inhibitors, thickeners, potash fertilizers, synthetic tow threads.

Imports from the UAE amounted to $6.2 million, or 135.8% compared to the same period in 2018. The main import items were propylene polymers, petroleum products, plates/ sheets/ film of plastic, pharmaceuticals packaged for retail sale. The surplus was $8.4 million.

A stable positive balance of foreign trade in goods remains.

In 2018, deliveries were launched for 34 new items. It was possible to increase the supply of the following products: synthetic tow threads, storage media, electronic equipment, furniture.

A comparison of the world import of the UAE and the export of Belarusian goods allows us to identify a number of promising areas: petrochemicals, engineering, agricultural products, woodworking, electronics and equipment.

Benefits for Belarusian companies:

  • the economy is steadily growing due to diversification;
  • the UAE is a trading hub with developed infrastructure, so it is easy to supply goods to other countries of the Middle East, Asia and Africa;
  • there are neither income tax nor profit tax;
  • it is the most open economy in the Middle East and North Africa (the UAE is traditionally among top-20 countries with the highest index of economic freedom);
  • a developed banking system is sufficiently integrated in the global one;
  • there is a stable political situation in the country;
  • there are good living and working conditions for foreigners.

Risks for Belarusian companies:

  • fierce competition from American, European and Asian companies;
  • foreigners are restricted to have more than 49% in companies outside the free zones;
  • slight restrictions on clothing, behavior and etc., imposed by Shariat.

Belarus's most valuable products, imported by the UAE in January — November 2017 (in thousand U.S. dollars)

Products

Total, in thousand U.S. dollars

Food products

761.9

Processed petroleum oils

2452.7

Polycarboxylic acids

174.4

Potassic fertilizers

691.5

Anti-knock preparations, gum inhibitors

6561.6

Builders' joinery and carpentry of wood

123.7

Glass fibres

442.2

Cars

275.9

Trucks

35162.9

X-ray equipment

623.3

Bearings

143.2

Checking apparatus

301.1

Furniture

1830.8

Trade dynamics between Belarus and the UAE (2013 — 2017)

Year

Turnover

Exports

Imports

Surplus

2013

50095

41179

8916

32263

2014

69688

59300

10388

48912

2015

29747

25014

4733

20281

2016

37859

29330

8529

20801

January — November 2017

79542

68962

10580

58382

January — November 2017 as compared to January — November 2016, %

237.4

257.3

157.8

 

2017 (approximately)

81000

69500

11500

58000

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in the United Arab Emirates, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in the United Arab Emirates for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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Administration of Export.by

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