- Action: Who have you identified within your organization as the focal point for FTA issues and opportunities?
4. Choose the right supply chain partner — A local supply chain/logistics expert with regional knowledge will help navigate the economic landscape. To be successful, a MNC needs processes and systems that aid in employing state-of-the-art and regulatory-compliant trade operations. A local expertise is required to understand the complexities of local rules and regulations, properly assess appropriate trade lanes, select qualified service providers, and outline activities that reduce risk, improve compliance, and streamline the flow of cross border shipments in the region. One option is to outsource trade operations and employ off-shore documentation management in order to achieve financial savings and operational benefits.
- Action: When was the last time you evaluated your supply Chain/logistics processes and benchmarked them against global best practice?
UAE foreign trade with the outside world has made great strides in recent years. This trend is expected to gather more speed as the country gets more involved in the global economy and the government continues to increase spending on job creation and infrastructure expansion.
About the Author: Len Casley is the general manger of the JPMorgan branch based in the Dubai International Financial Center and maintains oversight on the regional supply chain and logistics solutions for the Middle East operations of several MNCs. Casley is supported by a team of regional compliance and logistics experts with global experience.