UAE: Abu Dhabi Announces New Incentives for Importers, Partners

UAE: Abu Dhabi Announces New Incentives for Importers, Partners

The announcement came as part of the framework of Abu Dhabi's initiatives aiming at supporting vital sectors and maintaining enterprises, particularly small and medium enterprises, and developing services provided to dealers, while increasing competitive capabilities in international trade, reported state news agency Wam.

Such incentives and facilities include the ability to replace bank guarantees with institutional guarantees for partners accredited at the General Administration of Customs in Abu Dhabi. These aim to mitigate financial burdens incurred by enterprises, and which are accredited by criteria based upon volume of an enterprise's business, revenues and commitments.

Also, the free and smooth transportation of goods between free zones and Customs warehouses and electronic monitoring, such that ownership of deposited goods or part of them may transfer from one company to another within the free zone,