UAE: 2 steps forward for tourism but 3 positions back in global trade index
The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.
The UAE has fallen three positions to rank 19th in the biennial Global Enabling Trade Report 2012 released by the World Economic Forum. Although it ranked first in the Arab region and ahead of economies such as France, Ireland and the US, the UAE’s position fell because its trade policy is less open than in previous years, said the WEF report.
“The country’s share of duty-free imports has decreased from 29 to 24 per cent, UAE exporters now face a lower margin of preference in key export markets,” it said. Clearance of goods at the border is very easy, the availability and quality of transport infrastructure is very good, and the country also has high physical security, said the report.
“Despite progress achieved in these areas, the UAE could benefit more from trade and its favorable geographic location on the Europe-Asia trade route if it continues to liberalize its transport services,” it added.
In the region, Oman came second on the list at the 25th spot, and was followed by Saudi Arabia, which jumped from the 40th position in the previous list to 27 this year.