HH Sheikh Hasher Bin Maktoum Al Maktoum, Director General of Dubai Department of Information, inaugurated the International Autumn Trade Fair (IATF) today (December 17th 2017) at Dubai International Convention and Exhibition Centre (DICEC).
“IATF has enabled the creation of a remarkable trade landscape in the country. With VAT to be introduced soon, UAE citizens and trade partners can expect a positive influence on trade and economy. VAT has been implemented after careful consideration and consultation with businessmen, banks and economic bodies. As such, the trade and commerce activities will only see a positive growth with the incorporation of this new tax regime,” said HH Sheikh Hasher Bin Maktoum Al Maktoum.
A report by World Trade Organisation indicates that UAE occupies the 12th and 10th position respectively on the list of leading exporters and importers in world trade in commercial services. The country has steered ahead of Norway, Malaysia, Indonesia and New Zealand with exports valued at $63 billion and imports at $82 billion.