New York, N.Y., September 28, 2011 – The United States Council for International Business (USCIB) is pleased to announce that Abu Dhabi will start accepting ATA Carnets for the temporary admission of goods, beginning October 1. Last April the Dubai Chamber of Commerce became the 69th guaranteeing association in the ATA Carnet guarantee chain. Dubai was the first of the United Arab Emirates to welcome merchandise traveling under Carnets.
Abu Dhabi, the UAE’s capital city, has developed rapidly in recent years. Its population now maintains a high per-capita income, which has transformed Abu Dhabi into a large and advanced metropolis. USCIB, which issues and guarantees ATA Carnets in the United States, said the expansion, coupled with the emirate’s strong buying power, provided an excellent opportunity for American businesses to sell their products.
“UAE is a leader in international trade in the region and it continues to demonstrate this as it expands acceptance of the ATA Carnet,” said Cynthia Duncan, USCIB’s senior vice president for Carnet operations. “With strong buying power and numerous trade shows in Abu Dhabi, the UAE’s acceptance of Carnets should be a gain for U.S. companies from all industries.” Goods travelling on ATA Carnets for display at exhibitions, fairs, meetings or similar events will be able to enter this emirate through the Abu Dhabi International Airport and the seaport of Zayed, according to USCIB.
ATA Carnets are merchandise passports that permit the duty-free, tax-free export of goods. In 2009, the most recent year for which worldwide figures are available over 150,000 Carnets were issued, covering goods worth more than $17 billion (U.S.). Prior to Abu Dhabi’s acceptance, Bosnia & Herzegovina and Mexico were the latest territories to join the worldwide system, which is overseen by the International Chamber of Commerce (ICC) and the World Customs Organization.
The UAE was the largest U.S. export market in the entire Middle East and North Africa region in 2009, and the 19th largest globally, according to the U.S. Department of Commerce. Transportation equipment, machinery, computers and electronics, and chemicals are the top U.S. exports to the country. Since UAE joined the ATA Carnet system last April we have received significant demand for ATA Carnets for travel to Dubai and multiple requests for use in Abu Dhabi.
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.