Economic Integration in the UAE

Trade Elements (World Trade Organization Country Profile, 2018):

Business observations:

• Most of the partners of UAE are neighboring countries. Seemingly, the culture of the members of the various countries contributes to the striking of the partnerships. Most of the countries in the partnerships are from the Arab world. 

• An interesting observation is that although most of the partnership involves countries of the Middle East, it requires the contribution of other countries that have different cultures to do business. Most of the countries that UAE trades with are in Asia and Europe. However, UAE does little business with Africa because of the nature of its imports and exports. 

• UAE does very little business transactions in agricultural products. Perhaps UAE does not have a favorable climate for growing crops. The economy of UAE is reliant on oil and machinery.

• UAE exports most of its products to countries in Asia but gets its imports from overseas countries. The source of the imports demonstrates that the neighboring countries produce virtually similar products. UAE, therefore, has to negotiate with overseas countries to outsource its crucial supplies. The source of the imports also shows that the Middle East does not produce machines but is also adopting technology and a high rate.

References

Central Intelligence Agency. (2018). The World Factbook   Cia.gov . Retrieved 14 February 2018, from https://www.cia.gov/library/publications/the-world-factbook/

World Trade Organization (2018).  Wto.org . Retrieved 14 February 2018, from https://www.wto.org/index.htm