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Free-Trade-Agreement-27-Oct-2022-21-e1665992002794

EFTA / GCC – Free Trade Agreement: Learn how the FTA can help you boost your business in the GCC


27 October 2022, 04:00 PM
Capital Club, DIFC, Dubai + Virtual - For companies who are based out of Dubai

Did you know that you can take advantage of the Free Trade Agreement (FTA) with the GCC countries to avoid import duties of up to 20%? 

The Swiss Team in Dubai cordially invites you to join a 2-hour hybrid event to learn all about the FTA between EFTA and GCC states and get the latest updates.

DATE & TIME:

Thursday 27th of October, 2022 | 4 PM to 6 PM, followed by networking drinks

LOCATION:

Capital Club, DIFC, Dubai

For companies based outside Dubai: Please let us know in the registration comments – A link will be sent prior to the event to attend virtually.

SPEAKERS:

Mr. Daniel Stadelmann, FTA expert, State Secretariat for Economic Affairs SECO

H.E Massimo Baggi, Ambassador of Switzerland to the United Arab Emirates and Bahrain

H.E Frank Eggmann,Consul General of Switzerland and the Swiss Business Hub Middle East Director

Ms. Khatuna Khasaia, Head of Supply Chain Management/ Logistics at Hitachi Energy

OVERVIEW:

The free trade agreement (FTA) between the EFTA and GCC states entered into force on July 1st  2014 and covers a broad area to improves market access for Swiss exporting companies (goods, services, government procurement). This agreement is one of the few GCC-wide FTAs and gives Switzerland a clear comparative advantage.

The experience of Swiss companies based in the UAE has been generally positive. Many of the initial difficulties associated with the implementation of the agreement in the UAE could be resolved.

Difficulties remain in cases of subsequent exports to other GCC countries, with Swiss companies using the Emirates as a regional hub. Several GCC states are demanding customs duties for goods that have transited through the UAE, even in cases where the FTA explicitly provides for a mechanism to do so. The problem is particularly important for goods transiting through free zones. The Embassy has raised this situation with the UAE authorities who are of the opinion that the levying of customs duties in these cases is contrary to the FTA and have indicated that GCC working groups are working on a solution.