(MENAFN- Khaleej Times) The ranking of the UAE as the first in the Arab world on the global Enabling Trade Index of the World Economic Forum reinforces the country's leading position as an investment hub and a major headquarter for international companies, Shaikh Hasher Maktoum bin Juma Al Maktoum, Director General of the Dubai Department of Information, said on Monday.
Shaikh Hasher, speaking at the opening of the International Autumn Trade Fair (IATF 2014), now branded as 'Smart Living', the region's pioneer consumer goods show, at Dubai International Convention & Exhibition Centre, said that Dubai is the commercial hub, not only for the Middle East, but also for the wider region including India, Pakistan, Eastern African countries, Iran, Russia and others. "Achieving the 16th position in the world according to the international report reinforces the leading position of the UAE as an investment hub and a major headquarter for international companies."
"The exhibition has registered an increase of 27 per cent compared with the previous edition. It is rebranded as 'Smart Living' as it supports the UAE's Green Economy for Sustainable Development national initiative to make the emirate a global leader in this area, and a centre for the export and re-export of green products and technologies," he said. In the Global Enabling Trade Report published by the World Economic Forum in April, the UAE is ranked 16th on the Enabling Trade Index (ETI) 2014, with a score of five, close to the USA (15th place), Canada (14th place) and outperforming countries such as Denmark (17th rank), Austria (18th), Australia (23rd), China (54), Mexico (61), Argentina (95) and India (96). The UAE holds the No. 1 rank amongst Arab economies. Satish Khanna, general manager of Al Fajer Information & Services, organiser of the show, said the UAE economy is structured traditionally on trade but competing globally driven by a trade differentiator element. "If we look at the most recent report, we see that only few economies outperform the UAE, such as the number one ranker Singapore (score 5.9), Hong Kong at No. 2, the Netherlands at No. 3, New Zealand at No. 4, Finland at No. 5, UK at No. 6, Switzerland at No. 7, Chile at No. 8, Sweden at No. 9, Germany at No. 10, Luxembourg at No. 11, Norway at No. 12 and Japan at No. 13. The UAE achieved the same scores as USA, Canada, Denmark and Austria, which speaks volumes for its competence levels."
The report says the UAE's success in establishing a logistics, trade and tourism hub in the region is reflected in its strong positioning on the ETI. The UAE also boasts a very efficient border administration system and an operating environment that is very conducive to trade, with easily accessible finance and ease of hiring foreign labour. The exhibition has attracted on the first day a wide range of visitors, from end-users to trade visitors, interested in clinching deals with companies from Asia, Russia and Europe, which are seeking to expand footprint in Middle East and North Africa region.
"IATF 2014 is a leading regional buyer-seller meeting ground for the consumer goods segment in the Arab region. The show has featured more than 200 exhibitors from 17 countries. We leverage on the position of the UAE in the trade industry to attract exhibitors from all over the world as well as consumers from all over the region," said Khanna.
Products on display at IATF 2014 include cosmetics, foodstuffs, electronics, household appliances, plastic household products, toys, stationery, electrical items, handicrafts, carpets, garments, textiles, house ware, kitchen ware, sanitary ware, novelties, machinery, machine tools, hardware accessories and dairy products, said Rupashree Singh, exhibition manager.
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