An article by our Commercial General Manager of our Dubai office, Mr. S. Sreekumar, on UAE business environment under the current global economic downturn, the impact of the economic slowdown in the US & Europe on the whole shipping industry as well as our businesses in UAE, with plans to counter the world recession.    

During this financial crisis no country is insulated. This is applicable to UAE as well. UAE which gained strong financial position during last few years due to high oil price will be able to go through the situation without severe impact.

Abu Dhabi, the Capital Emirate of UAE is having the largest Sovereign Wealth Funds (SWF) which is amounting approximately USD 1 Trillion will be a helpful factor in this period.

Globelink UAE is working with plans to go with aggressive Sales and looking into new markets in Western & Northern Africa for business. Coordinated Action Plan to obtain maximum business from existing clients may also bring some good results even during these difficult periods.

Falling rates are a major concern for our LCL consolidation and we are actively monitoring and taking necessary actions on time to have the most optimized result.

Some updates on…….

SHARJAH OFFICE

Globelink Sharjah was officially opened in the heart of the city on 26 th October 2008, supported by FCL, Airfreight & Import Sales staff. It had since boosted our UAE revenues from Sharjah and Northern Emirates. It had also been a great help in coordinating air shipments from Northern Emirates, and arranging shipments through Sharjah Airport .

JEBEL ALI WAREHOUSE

A new facility in Jebel Ali will be ready for operation by end March 2009.