Market Opportunities in the United Arab Emirates
Finland’s top trading partner in the Gulf region
The United Arab Emirates (UAE) is Finland's largest export market in the Gulf region. The United Arab Emirates, made up of seven emirates, is a stable and prosperous country that offers significant business opportunities for Finnish companies. Known as the Middle East's regional center for trade, finance, tourism and logistics, the UAE continues its ambitious efforts by diversifying and developing its economy, as it strives to move away from oil dependence towards a knowledge-based society. The biggest business opportunities can be found in the following areas, which Team Finland's activities focus on and which the country's government has announced that it will particularly invest in: 1. digitalization, 2. energy, 3. circular economy and 4. health and health technology.
The UAE's business environment is favorable and there are few barriers to trade. The country's long-term growth expectations are good and the related development plans are extensive. The country is seeking high and state-of-the-art technology and know-how in its efforts to diversify the structure of its economy, still based to a large extent to the oil and gas revenues. The country develops its innovation environment, seeks high and latest technology, and attracts international business investments and know-how. In addition to digitization and the green transition, interests include e.g. smart cities and transport solutions, artificial intelligence and robotics, blockchain technology, 5G technology, space industry and food and water security. There are plenty of opportunities for Finnish companies and expertise, however competition is keen. Success requires commitment, persistent engagement, local presence and good partnerships from companies. The country image of Finland in the region is positive, albeit not very strong. Finland is known especially for its high-quality education, technological know-how, innovations as well as a reliable partner.
