The Dubai International Chamber recently organised an event in Baku, Azerbaijan, to highlight business and investment opportunities in the UAE.
The UAE making a presentation on the Caspian Sea rather than the Persian Gulf shows the international nature of commerce. Similar reasons apply to their decision to join the ATA carnet system in 2011.
Neither are they alone in the Gulf, with Qatar becoming ATA carnet members in 2018. This helped to facilitate the World Cup, although they were aware of longer term value and of the signals joining sends.
Membership of global bodies brings confidence in the Qatari economy. They recently joined the United Nations Global Compact, a worldwide initiative to improve corporate sustainability and responsibility.
Eastern European Development
Parts of the now dissolved Republic of Yugoslavia have joined the ATA carnet family, such as Bosnia & Herzegovina. Former Soviet bloc countries have become members, including Albania and Moldova.
Moldova entered the ATA Carnet system in 2010. They stated that joining the Carnet system was a strong signal of the country’s commitment to economic growth, openness and becoming a major trade participant.
The Moldovan Chamber has recently taken their membership a stage further, by launching an online, digital ATA carnet service. An indication of how they and others in the region wish to be seen as modern places to trade.
Widely Recognised Benefits
ATA carnets are well known for their use by media organisations, or those attending business shows. The list does not however stop there.
In a recent legal update, the Turkish authorities emphasised the use of carnets to import works of art for exhibitions. A duty free option which can apply to most non perishable items and is a business stimulant.
Cashflow matters to business and reducing cost for those looking to establish links in your country is a wise move. Business travel on a carnet can often be the first stage in a relationship which grows.
Carnets also reduce hassle, which can have a direct cost but the benefits for timekeeping and staff morale are greater, allowing the focus to be on business.
A Carnet Provider’s View
We are naturally proud of what ATA carnets have achieved and the way the approach has spread. Few international systems have proven so popular, or lasted for decades without real debate, or difficulty.
They can help to overcome change, such as the role they have filled since Brexit. They remain a solid UK – EU connection, when others have been set aside.
Our team will be pleased to provide any information on ATA carnets you require. Above all, they are there because carnets link countries together, in a trade friendly, positive way.