In spite of tough economic conditions globally, and continuing political tensions in the Arab World, the Emirate managed, through reliance on alternative choices and diversified sources of income to increase the volume of its economy to 22 billion Emirati dirhams (six million dollars) by the end of 2002.
Sharjah is considered the industrial backbone of the United Arab Emirates (UAE) with 40 of the total number of industries in the Emirates based there. The UAE has no trade barriers, no restrictions on imports, no corporate taxes or income taxes, only four percent import duty and unhindered repatriation of profits. — (menareport.com)
© 2003 Mena Report (www.menareport.com )