Hello Dubai
Barriers
Apart from the competition, some cultural differences may hinder trade, particularly for female exporters. Gibbs Stewart says it’s about understanding and accepting the culture and then working around it.
“When a woman goes there, more than likely she’ll be doing business with a man. Sometimes there are cultural things that might not allow good communication or the development of a relationship that you might develop in other cultures,” she notes.
“You have to understand that they won’t go out to dinner with you, because it’s not the appropriate thing to do. Sometimes they won’t shake your hand. In any culture there are the more conservative and the more liberal, and those who are more conservative have a different interaction with women.”
The future
The Australian Government recognises the value of trade with the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, and the two parties began free trade negotiations last year.
Since the UAE is quite an open market already, a free trade agreement will most likely affect the rules for foreign direct investment, allowing foreign-owned entities to trade outside the current free trade zones.
In early 2008, UAE Minister of Economy Sultan Bin Saeed Al Mansouri indicated the law would follow that course when he announced that the Companies Law will be altered slightly where foreign investment is required: “We will allow 100 percent foreign ownership wherever it helps the economy.”
Trade Links
Austrade Middle East & North Africa site: www.austrade.com/ME-Home/default.aspx
Australian Arab Chamber of Commerce & Industry (AACCI): www.austarab.com.au
Australian Business Council Dubai: www.abc-dxb.com
Department of Foreign Affairs: www.dfat.gov.au/geo/uae
Middle East & Gulf Australian Alumni (MEGAA) Network: www.megaanetwork.com
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