In need of yet another supply-chain headache? Of course you are!
There is a little tit-for-tat going on in Middle East trade.
Saudi Arabia, the UAE’s fifth-largest trading partner, is slapping new rules meant to exclude items made in free zones from preferential tariff arrangements which allows the free flow of goods within the six-member Gulf Cooperation Council. An impasse over oil policy that did more than just tickle the global energy markets followed by the latest trade disputes would indicate this broader competition is not over by any means.
In the latest salvo, Saudi Arabia "has raised pressure on international firms to shift their regional headquarters to its shores, in a direct challenge to Dubai and the companies that have chosen it as the base from which to serve the broader region, where doing business can be more complex."
Now as to you all your trucks that have been lined up for hours at the border between Saudi Arabia and the United Arab Emirates, it's going to be a bit of a wait. Cuppa ?
#unitedarabemirates #dubai #saudiarabia #trade #oil
https://www.bloomberg.com/news/articles/2021-07-20/trucks-stuck-as-saudi-uae-competition-spreads-to-trade?utm_medium=email&utm_source=newsletter&utm_term=210724&utm_campaign=bop
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