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 II.  BILATERAL TRADE WITH THE PHILIPPINES
     Value in US$ Million

In 2006, UAE ranked 23rd as the Philippines' trading partner, 20th as export market and 19th as import supplier. In the Middle East region, UAE ranked 1st as export market and 3rd as import supplier in 2006.

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• The GCC Customs Union - Being a gateway to the Middle East and a member of the Gulf Cooperation Council (GCC) at that, UAE offers vast market opportunities for Philippine exporters. GCC has decided to adopt a customs union at the beginning of March 2005. Imports to GCC countries (United Arab Emirates, Saudi Arabia, Oman, Qatar, Kuwait, & Bahrain) will be classified into three categories, namely: those exempt from taxes, those to be taxed by 5.5 percent and those considered as luxury items to be taxed by 7.5%.

The GCC Customs Union is currently being phased-in, with a view to a common market in 2007, and monetary union in 2010. 

• Garments will continue to have bright prospect because, just like Saudi Arabia, Kuwait and other GCC countries, UAE has substantial garments imports each year.
  
  

• Foodproducts- The UAE remains as an attractive market for ethnic foods and other Philippine food exports due to the presence of a number of Overseas Filipino Workers (OFWs) in the country and the growing acceptance by the nationals. 
  
  

• Personal Computers, PC Notebooks, Computer Monitors, Modems - There are no import restrictions for the computer industry. Private and public sector entities try to keep pace with current technology and communication methods by using computer equipment in-line with what the current market offers. Growing awareness of the value of accessing the internet ahs augmented the home PC market, which is expected to further increase. Local governments are placing great emphasis on Information Technology (IT) being made available in public schools.
  
  

• Architecture/Construction/Engineeering - The construction industry plays a substantial role in the UAE's economy, accounting for almost 20 percent of its GDP (2006 est). The icnrease in oil revenue creates an increase in Government welath and expenditure. UAE has a young, ever growing population leading to massive housing requirements while th oil revenues continue to drive a construction boom in both the public and private sectors. The potential of the UAE's construction sector is being recognized globally. All major projects require international construction project management firms to supervise work execution. 
  
  

• Sporting Goods / Recreation Equipment - The UAE has a population of 4.4 million (July 2007 est), of which 80 percent are expatriates. With tax-free income and one of the world's highest per capita income of US$19,080 (2006 est) the country's leisure retail outlets will increase dramatically. Inbound tourism, which is actively supported by the Government and the move towards a five-day week by the Government, would also increase the time spent by both locals and expatriates on leisure and sporting activities.

Source: www. buyusainfo.net

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1. http://www.odci.gov/cia/publications/factbook/ - Market information on demography and economic indicators. 
   
   

2. http://www.imf.org  - Provides news, statistics, financial position in the fund, etc. 
   
   

3. http://www.goegraphic.org  - Maps of the world
   
   

4. http://www.adcci.gov.ae  - Website of the Abu Dhabi Chamber of Commerce, the umbrella organization of the country's chambers of commerce
   
   

5. http://www.government.ae/gov/en  - Portal of the UAE government
   
   

6. http://www.buyusainfo.net  - information on best opportunities for exporters to pursue. It also include potential products to export

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