We come from a family where business is a tradition for over 150 years therefore, are born traders or you can say risk takers for lucrative returns. I believe this might be one of the reasons for stepping back from banking to trading to follow my fore father’s roots. But it took me sixteen years to decide while I enjoyed experiencing banking as profession after earning a MBA degree and choosing banking as my career. Self employment is rewarding when you learn to live up with lot of patience and hard work enjoy risktaking and competition under freedom of decision making.

Internationally, the UAE is well recognized, as an export and re-export gate way between east and west for foreign trade and service activities. It offers various incentives for exports and re-exports for trading industries such as 100 pct duty exemptions that also promotes healthy competition, attracts new investment and develop new markets. In addition, there are a number of prestigious awards presented to companies who earn outstanding performance and excellence to their respectful fields. One of the most prestigious awards presented is by His Highness Sheikh Mohammed Bin Rashid Al-Maktoum, the Vice President & Prime Minister of the UAE and the Ruler of Emirates of Dubai under the name and patronage of Mohammad Bin Rashid Al- Maktoum award (MRM) The MohammedBin Rashid Al Maktoum Business Award has been specifically created to help businesses analyze their current practices, and provides an excellent opportunity for local organizations to align their management techniques with world-class practices.

The UAE banking industry is bound to live up its high tech service standards demanded by one of the fastest growing economies of the world. The UAE’s non oil foreign trade has grown a record rise of 236 per cent in the last decade. Therefore, the UAE banks face stiff competition among its 21 national and 26 foreign banks with a total of 457 branches. The performance of the non-oil sector demonstrates the strength of the UAE economy despite oil being a major part of it. It shows how diversified the economy is, the private sector plays a dynamic role underlining the structural strength of the economy." Therefore, the banks in the UAE reflect to offers updated services to the trade industry that creates a decent share in the economy to meet the challenges of the highly growing trade industry of $ 54.2 billion to offer locally available, easily accessible, affordable and timely deliverable services

The UAE, under Chamber of Commerce & Industry sponsors professional legal arbitration services that are easily accessible and affordable for dispute resolution to the business community. For example, the Dubai International Arbitration Centre (DIAC) offers a high caliber of arbitration services and facilities on an international scale. First created in 1994 as the "Centre for Commercial Conciliation and Arbitration", the current DIAC is an autonomous, permanent, non-profit institution. The Centre providesthe regional and international business communities with an exclusive service at affordable rates. DIAC was created as a means to supply facilities for conducting commercial arbitration, promoting the settlement of disputes by arbitration, as well as developing a pool of arbitrators in the practice of international arbitration. As an institutional arbitration centre, its outlook is to provide efficient, flexible and impartial administration of disputes, appointing arbitrators, choosing a venue and fixing fees of arbitrators and conciliators. DIAC selects arbitrators of the highest ability and professional competence.

Comparatively, the UAE transportation infrastructure is known as one of the best available in the Middle East and meet any world class standard. The transportation system either by sea, air or road all are design adequately and efficiently to meet trading traffics matters designed on modern infrastructure. The Emirates of Dubai today has grown as one of the largest, busiest and most efficient sea and airport in the world. With a current population of about 4 million, the UAE sea and air ports continually being up graded to meet growing demand and challenges of the economy where government spending are in billion of Dirham.

The UAE’s insurance sector is one of the growing industries that qualifies to meet international standards with trade friendly. Total investments in UAE's insurance sector had reached Dh14 billion ($381 M) in the year 2005 or 1.4 per cent of GDP. The foreign companies made up half of the total number of the insurance companies in the local market and 53.9 per cent of these investments were in stocks and special bonds, and 36.4 had been invested in the banks deposits. Currently, 46 local insurance companies are working in the market. The foreign companies had collected a share of 75.5 per cent of the total installments of life and savings insurance in 2004 while the local companies had 24.5 per cent of this category. The UAE boasts the largest number of insurance companies in the GCC The advent of international companies following last year's government decision to open the market to foreign competition means that the sector has entered a new dynamic development phase. Therefore, the UAE offers a trade friendly infrastructure set on high standard.

As said, the UAE is recognized as an export and re-export trading hub for international markets where the non-oil GDP grew by 14.92 percent in 2005 and is estimated to reach $ 34.91 billion, up from $30.37 billion in 2004 and $25.15 billion in 2003. Therefore, UAE is well stocked with movement of products and services for managing to cover all kinds of trade-related risks.

The UAE has all the required inclination and recourse available for accelerating business development that is why has become the center for hi-tech where trading businesses run to boost productivity. It is the only country in the Middle East that has introduced the concept of Internet City where leading high-tech multinational organizations having set-up their Regional Offices in the country such as Microsoft, Sun etc.

On the Government level there are number of efforts made to cover a large number of management, marketing and financial courses to train its manpower. But it’s not academic only the government also offers low cost loans to those nationals who are willing to enter in various manufacturing and trading fields.

Like wise, the role of chambers is to be indispensable source of competitive advantage for the business community and to be recognized organization of choice to represent, promote and protect the interests of the business community in Dubai by providing value added services that create new business opportunities and competitiveness in the global market and to actively support and influence government measures to improve and enable business climate.

  To present, defend and protect the general economic interests of members.

  To be active in voicing and influencing policies of interest to the members before local, regional and international public authorities.

  To promote the investment environment in Dubai.

  To develop an infrastructure (platform) to promote business development in Dubai and to facilitate network opportunities and interaction of members with the     local, regional and international community.

  To satisfy the needs of the members, offer them value added services, and provide access to increasingly relevant information that complement what is already in     the market.

  To be effective and efficient in allocating the budget and high impact initiatives.

  To build the right capabilities to serve effectively the business community in Dubai

As mentioned, the UAE’ s international trade has grown a record rise of 236 per cent in the last decade. Further non-oil GDP grew by 14.92 percent in 2005 and is estimated to reach $35 billion. The UAE focused to pursue free market, pro free trade policies to diversify its economy away from its dependence on oil. Despite possessing of large oil and gas reserves, the rapid growth in the non-oil foreign trade activity reduced oil’s share of GDP from 60 percent in 1980 to about 30 percent currently that makes international trade helpful and successful in the country’s economic development.

As the world economies move up trend since past many years, the UAE has claimed its own share peaking to new heights in international trade sector, pushed by its well balanced just and liberal trade policies that makes the UAE as one of the fastest growing economies of the world. As per The Economist World in Figures 2004, the UAE stands as the 13th largest current account surplus, 11th as highest GDP per head and 6th as largest surpluses as % GDP. Like wise, I believe, the future of the international trade of the UAE is all set to see greater performing results in the history of the country.