UAE Reducing Fees for Some Trade Services
The United Arab Emirates is eliminating and reducing government fees on more than 1,500 federal services, including some in the trade sector, according to a press release from the UAE’s Ministry of Finance and a July 22 report from the…
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Hong Kong Trade Development Council. The UAE said it has agreed to cut some fees in half to make it cheaper to do business in the country and boost the UAE’s competitiveness. While the fee reductions span across the ministries of the Interior, the Economy, and Human Resources and Emiratisation, the HKTDC said the changes will have a “direct impact” on foreign trade. One change includes a reduced fee for lodging a dispute between “agents, appointed representatives and collectors from a trade agent” from about $3,200 to $2,200, the report said. The changes are expected to decrease the cost of trading to the UAE, the HKTDC said, and were expected to be introduced before July ends.