The UAE ranked first in the Arab world on the Enabling Trade Index, according to the World Economic Forum 2014 report which was recently published.

The Global Enabling Trade Report 2014 pointed out that the country stood 16th on the index globally, with a score of five, close to US in the 15th place, Canada ranked 14th and outperforming countries such as Denmark, Austria, Australia, China, Mexico, Argentina and India.

The scores were based on seven pillars - domestic market access, foreign market access, efficiency and transparency of border association administration, availability and quality of transport Infrastructure, availability and quality of transport services, availability and use of ICTs and operating environment.

The figures were released in connection with the 29th International Autumn Trade Fair (IATF2014), now branded as ‘Smart Living,’ which opened today (December 1) at the Dubai International Convention and Exhibition Centre.

Sheikh Hasher Maktoum Bin Juma Al Maktoum, director general, Dubai Department of Information, said: “Dubai is a 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 launched by Sheikh Mohammed bin Rashid Al Maktoum, to make the emirate a global leader in this area, and a centre for the export and re-export of green products and technologies.”

Satish Khanna, general manager of Al Fajer Information and Services, organiser of the show, said: “Once again the UAE is gaining prominent international recognition. It is an economy that is structured traditionally on trade but competing globally driven by a trade differentiator element.”

The UAE’s success in establishing a logistics, trade and tourism hub in the region is reflected in its strong positioning on the ETI, said the report.

It also boasts an 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 show has attracted 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 (Mena) 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.

The products on display include a mix of products comprising 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. - TradeArabia News Service