Dubai traders see good demand for products

Dubai: Dubai traders expect demand for their products to be good or very good in 2006.

Abdul Rahman Al Mutaiwee, director-general of the Dubai Chamber of Commerce and Industry (DCCI), said a study showed that the majority of businesses in Dubai of various sizes and sectors found it easy to comply with regulations in general.

On average, he added, the small-sized companies and the trade and transportation sector seem to encounter some difficulties in complying with the regulations.

"More than 40 per cent of the companies believed that compliance with regulations is expensive," Al Mutaiwee said. Dr Belaid Rettab, director of the DCCI data management and business research department, said that 57 per cent of traders expect demand for their products to be very good or good while seven per cent expect it to be negative.

She said that 49 per cent of traders expect higher sales in 2006 compared to 2005. They also expect greater utilisation of technology.

Natasha Hussain, an economic researcher in DCCI, said that there are significant advantages to these regulations, such as the ease of obtaining visas abroad, in addition to the excellent facilities for trade, encouraged by low tariffs and the easy transfer of capital.

She also pointed out that some of the disadvantages include the difficulty of obtaining visas for employees from certain countries, in addition to municipality documentation (fees, building permits and licenses) and the requirement for bank guarantees when appointing personnel.