Trade Compliance Global: Hot Spot VAE

CompliancePraxis article by Johannes Leitner und Hannes Meissner

The United Arab Emirates, particularly Dubai with the Jebel Ali Free Zone (JAFZA), are among the most important global trading hubs and offer companies attractive infrastructural and regulatory advantages. At the same time, the low transparency of such free trade zones entails considerable trade compliance risks, particularly with regard to possible sanctions circumvention. Trade – especially with Iran and potential re-exports to Russia or Belarus – often takes place via intermediaries, which makes comprehensive control difficult. The full article explains exactly how companies are overcoming these challenges – and why Dubai continues to boom as a hot spot for global trade despite all the risks. Please follow the link.