3. If you were in a position to advise a Western company that was considering doing business in UAE for the first time, what would your advice be?

The United Arab Emirates (UAE) was established in 1971 and is a country located in the Middle East. The country is often called “the Emirates” or simply “UAE.” UAE borders the Gulf of Oman and the Persian Gulf. Neighboring countries include Oman and Saudi Arabia, and UAE also shares sea borders with Quatar, Iran, and Pakistan. Strategically, UAE is in an important location along the southern approaches to the Strait of Hormuz, a transit point for the world’s crude oil. UAE is also in the top 10 countries for the largest oil reserves in the world.
The geography of UAE includes lots of rolling sand dunes of desert and also mountains in the eastern part of the country. The government consists of a federation with specified powers delegated to the UAE federal government and other powers reserved to the member emirates (equivalent to principalities). The chief of state is the president and the head of government is the prime minister. UAE has an open-market economy in which the prices of products and services are set using a free price system.