In a world dominated by the continuous growth of globalization, there are increasingly more enterprises who choose to undertake sales abroad and that's why it's always greater the request by specific counseling all’internationalization.
We have often discussed the benefits that export (digital and otherwise) can bring to many Italian companies, while at the same time emphasizing the importance of being assisted in this process by professionals with proven experience in the sector.
Today we will treat advisory all’internationalization in relation to the United Arab Emirates, which is a growing market of great interest for exports in multiple areas.
What are the reasons why the United Arab Emirates is becoming. an increasingly popular destination for exports in recent years?
Mainly due to their political stability and a prosperous economy, which translates into a high per capita income across all member states of this federation. This makes the UAE among the continuously growing countries. (source Trading Economics).
The Emirates ranks 19th in the importer rankings (source the World Investment Report of 2022) with a turnover of $21 billion, thanks in part to the fact that foreign investors can now acquire 100% ownership of companies based in the region.
In fact there are in the country of the Free Trade Zone (Source: Italian Trade Agency) where there are no profit management limits, with the possibility of obtaining tax relief for up to 50 years. At the same time, customs duties do not need to be paid.
These are significant advantages, even though the import tax is around 5% in areas outside the FTZs, so it’s not very high.
"Made in Italy" products are particularly popular in the United Arab Emirates, especially in the jewelry sector, which accounts for 18.81% of total exports (source: the Ministry of Foreign Affairs).
Next we find machinery, clothing and cosmetics.
We note to be virtually all business sectors to grow, therefore selling in the United Arab Emirates represents an excellent business option for many Italian companies looking to expand their business beyond national borders.
However, an internationalization process requires careful preliminary evaluation and the establishment of a strategy that allows the company to optimize time and resources.
There are many possibilities for successfully exporting many products, but to establish one's brand in a truly winning and lasting way, more factors must be analyzed with extreme care. They can be listed as follows:
What products would you like to export to the UAE?
What are your main competitors?
Do you have an e-commerce business that allows international purchases?
Do you already sell abroad? By what margins?
What are your goals, and your timeline?
These are just some of the basic questions for a internationalization consulting that can enable a truly beneficial internalization process for your business, one that minimizes and risks and expresses its full potential.
There are areas related to exports in the UAE that will tend to receive greater demand in the future. We are talking about renewable energy, new technologies, and infrastructure.
As we've already said, however, there are very many the sectors market in which to sell in the United Arab Emirates.
Octagona We can help you develop an internationalization consultancy that will allow you to establish your brand abroad in the most effective way, not only in the planning and strategy that underlie this process, but also by handling the bureaucracy and logistics related to exports.
Contact us today to know everything we can do for you and your business.
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