a summary of the United Arabs Emirate (UAE)

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The following is a study summarizing the United Arab Emirates (UAE) on such topics as history, culture, economics and government structure. The relationship between the UAE and Canada will also be explored and the experience gained from starting an enterprise which takes culture into account. The UAE is seen in the Middle East as a major economic hub. Known for the transformation of the region’s economy, tourism, imports and exports, tourism and oil. The UAE has a rich Arab culture rooted in Persian culture, which has inspired their architecture. The Arabic language is spoken. The United Arab Emirates is made up of seven joints; Fujairah, Ra’s al-Khaimah, Umm al-Qaiwain, Sharjah, Ajman, Abu Dhabi and Dubai. Their constitution was accepted in 1996 and the president elected in 2004. The federation’s president is elected by the Supreme Council of Rulers, which is regarded as the “policy-making body.” Legislative and executive powers are regulated by the Supreme Council, which also enacts federal law. Elections were last held in 2015 with women having been represented. The government is excellent in leadership and growth and development of the economy. Strengthening businesses and the economy is paramount, with few tax burdens (around 19% of total domestic income). Businesses have attracted tourists, which results in economic growth without oil as the focal point. The wealthiest emirate is Abu Dhabi. UAE was known to the world after their economic success and deep architectural culture.

Introduction

The strong ties between UAE and Canada form a strong basis for us to venture in the emirates. Both the countries are working together to help each other’s economic development, tourism anti-terrorism, and investments. The two countries have a close, good relationship, with UAE forming a big export market for Canada which can benefit our company even more, with the large population present. Corruption and terrorism are also close to none, and the two countries share strong ties, which will render a perfect business environment. The environment is safe, with legal protection and the market is familiar. UAE has already done business with western countries, which is also an upper hand. There is no language barrier, and there are free zones. The free zones offer no personal income tax and also foreign investment is tax-free. Several laws have also been translated into English.

Good manners are important in the UAE, with greetings being essential even in business meetings, where drinks are offered in hospitality during which chats follow, building relationships. Men need to wear suits and women wear clothes covering arms and legs. English is used in handling many business transactions, with in-person communication being preferred. Meetings should be timely scheduled and communication done on time, with working days being Sunday through to Thursday. Friday and Saturday should be respected and left as rest days. There’s a difference in UAE’s culture when compared to culture in the west. An example is a timekeeping, which is strict in western countries but in UAE, it is approached with a relaxed mood. Meetings can exceed the accorded time and can also be canceled anytime. The days of the week is also different with the ones in Christian countries.

Authority is much respected in the UAE, with most business decisions being done by one person. It is also important that people’s titles be respected, and also during businesses that people be addressed by their ranks. Loyalty and commitment to members are very important to people of UAE. People are responsible for one another and tasks are accomplished in a group and not a single individual. Individualism is a matter not known. Men are given priority in leadership positions, since Islam is prioritized over culture, with women being assigned less working hours tasks and are more concerned with relationships.

Conclusion

For business to be done effectively, knowledge in Islamic finance is mandatory since UAE targets to become an Islamic economy. Corruption is very low, and CSR activities are also appreciated, making corruption one of the last concerns to worry about. Gifts are highly appreciated and should never be rejected. They also need to have a personal touch with alcohol and pork-related gifts not making a list. Men should be appreciated mostly with perfume. The most accepted jewelry being silver. These conditions give a good working environment and our business can invest in the UAE market.

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