The German Emirati Joint Council for Industry and Commerce with its offices in Abu Dhabi and Dubai is coordinating German Delegations in Iraq, Oman, Qatar and Kuwait.
Similarities of the Gulf countries
Bahrain, Saudi Arabia, the United Arab Emirates (UAE), Qatar, Oman, and Kuwait are the members of the Gulf Cooperation Council which was founded in 1981 in order to promote strong economic ties, security, and political stability among the member states.
Thus, the Gulf Cooperation Council has 60% of all oil resources worldwide and 40% of world’s gas resources at its disposal. However, before these deposits were discovered in the 1930s, the region was one of the poorest in the world. People lived on agriculture, pearl diving, and trading. With the beginning of the oil era, the economy started to flourish and new work opportunities have been emerged, which attracted many expats to move to the Gulf region; currently 50% of the GCC residents are of foreign origin.
Despite meaningful similarities, no Gulf state resembles the other.
Each country is unique! UAE can showcase all the different facets, Abu Dhabi’s oil and gas industry, on one hand, has a share of more than 50% of the country's Gross Domestic Product (GDP). On the other hand, Dubai’s oil resources have declined significantly as Dubai's focus has shifted to different sectors like tourism, construction, trade, and services. Although the other Emirates are not as rich as Dubai, Ras Al Khaimah, Fujairah and Sharjah are also experiencing rapid economic upturn.
Like in Abu Dhabi, the majority of economic products in Qatar and Kuwait are derived from the oil and gas industry. Furthermore, Qatar is undergoing an enormous construction boom which attracts many foreign investors.
Likewise, Oman is working on diversifying its economy, but it still represents a more traditional Arabic country.
Markt Entry in the Gulf region
Despite different development levels and separate identities, all Gulf countries have something in common: their economic potential.
We, the German Emirati Joint Council of Industry of Commerce (AHK), are the right contact in order to assist you with the entry into this dynamic market. Our personnel in Abu Dhabi, Dubai, Doha, Erbil and Muscat will be happy to answer your questions and provide you personal advices.