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Gulf Countries – Lucrative Markets for Australian Exporters

Release Date

02 October 2013

The Middle East Markets are open for business but are more lucrative in selected sectors. The most significant countries that are part of the Gulf Cooperation Council (GCC) which form a political and economic union of Arabian States that share a many common borders are:
 
1.     Saudi Arabia
2.     United Arab Emirates
3.     Kuwait
4.     Oman
5.     Qatar
 
These economies are most lucrative because of their oil, gas and mineral reserves that have been in production for decades. Their economies are continually being fuelled by the world’s insatiable demand for energy and minerals, but they are now seeking to diversify and are looking at innovative products and services which will give balance to their productivity and at the same time create employment and new business opportunities for their nationals.
 
The region is also experiencing a population growth that is leading to increased demand for international consumer goods and life styles. This is evident in the growth statistics released by the GCC (see below) and further demonstrated by the demand for world events such as the 2022 FIFA World Cup in Qatar.

                                                                                                                  
 
Australia has many similarities with the Gulf region in regards to geography and weather creating opportunities for Australian companies in areas such as:
  • Marine and Aerospace
  • Food, Agriculture & Fisheries
  • Services: Financial, Healthcare, Education
  • Tourism & Hospitality
  • Information & Communications Technology
  • Metals & Mining
  • “Green” products
  • FMCG
The process to successfully enter and operate in these markets varies between the individual countries and in some cases between regions in the same country. Examples of common issues include; local participation, legal impediments, banking and finance, international agreements, Intellectual property, free trade zone arrangements, language and business culture.
 
Entering into new markets, especially the Middle East requires specialist assistance from organisations with experience and understanding of that particular region.
 
If you want to know more about exporting to the Middle East contact Camil Gereis at camil.gereis@australianbusiness.com.au

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