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Australia–UAE Expanding Trade and Cultural Links
Contents
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Welcome by HE Sheikha Lubna bint Khalid Al Qasimi, UAE Minister of Foreign Trade
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Welcome by The Hon Simon Crean MP, Minister for Trade
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Foreword by HE Mr Jeremy Bruer, Australian Ambassador to the UAE
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Foreword by HE Dr Saeed Mohammed Al Shamsi, UAE Ambassador to Australia
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Introduction by Dr Glen Simpson, Chair, Council for Australian–Arab Relations
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Roll of honour
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Advisory group
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Chapter 1: The Australia–UAE relationship
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Chapter 2: Conducting business in Australia
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Chapter 3: Conducting business in the UAE
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Chapter 4: Bilateral ties between the UAE and Australia
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Chapter 5: Culture and lifestyle
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Client directory
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Index
contents
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Welcome The UAE and Australia enjoy a strong relationship across a wide range of business, investment, cultural, and interpersonal linkages. Australia–UAE: Expanding Trade and Cultural Links is an insightful overview of this relationship and the opportunities that exist for its future growth. The UAE continues to diversify its economy, fostering an environment of innovation and economic openness that is uniquely Emirati, and building on a deep tradition of welcoming international partners and investment. Australians and Australian firms have played a welcomed role in this diversification, just as Emiratis and their firms now play an increasingly active role in Australia’s ports, airways and coastal developments. The UAE provides an exemplary investment environment and a strategic geographic position as a hub for international trade and commerce throughout the Gulf Cooperation Council’s member states; indeed all seven emirates deliver a highly compelling offering for Australian companies looking to expand into the region. Strong educational, cultural and people-to-people ties always underpin investment and commercial relations. The number of UAE nationals studying in Australia continues to grow, as does the presence of Australian universities in the UAE. Likewise, each nation’s mutual passion for horse breeding and racing provides another strong bond between the two nations, as do similar environmental challenges and the will to resolve them. More recently, on 9 February 2008, Adelaide and Collingwood played an official AFL NAB Cup match at Ghantoot Stadium, in the desert between Abu Dhabi and Dubai. The match was the first ever to be played in the Middle East, and a capacity crowd of over 7,000 spectators watched the match that was broadcast live back in Australia. Sheikha Lubna Al Qasimi, the UAE Minister for the Economy, and Mohammed Al Kindi, the former UAE Minister for Environment and Water, joined the visiting Victorian Premier Hon John Brumby and South Australian Governor Rear Admiral Kevin Scarce at the game. These growing bonds, along with regular high-level government visits between the nations has been vital in the positive progress towards a Free Trade Agreement between Australia and the GCC. It is thus very timely that Australia–UAE: Expanding Trade and Cultural Links highlights the mutual respect each country has for the other, the complementary nature of our two nations, economies, peoples and systems—as well as opportunities for boosting economic cooperation.
HE Sheikha Lubna bint Khalid Al Qasimi UAE Minister of Foreign Trade
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Welcome I welcome the opportunity to introduce Australia–UAE: Expanding Trade and Cultural Links which showcases the enduring nature of Australia’s relationship with the United Arab Emirates (UAE). Australia and the UAE enjoy a warm and growing relationship, enhanced by the increasingly complementary nature of our economies. The UAE is Australia’s largest merchandise market in the Middle East and a key entry point for trade with the wider Middle East and Gulf region. In 2007, two-way merchandise trade between Australia and the UAE was A$5.2 billion, and two-way trade in services was A$1.5 billion. As a dynamic and open economy, the UAE is a key destination for Australian elaborately transformed manufactures such as passenger motor vehicles. Services trade, including interest in Australian education services, is growing significantly and is now a key element of the relationship. Australian companies are well placed to partner with the UAE and contribute to its extraordinary economic growth. With expertise in building and construction, design, large scale infrastructure, and the many associated services, Australian firms can deliver high quality products and services to match UAE needs. Our countries share a commitment to an open, rules-based multilateral trading system which includes increased investment flows and reduced barriers to trade in goods and services. We are committed to the early conclusion of a high-quality and comprehensive Free Trade Agreement (FTA) between Australia and the Gulf Cooperation Council (GCC), which will offer further opportunities for expanding Australia’s strong and growing trade and investment relationship in the Gulf region. We also share significant people-to-people exchanges. Around 15,000 Australians and 600 Australian-owned businesses are based in the UAE, showcasing Australian commercial and technological expertise in a variety of fields. Our cultural links are growing. I welcome the important contributions made in trade and cultural fields by the Australian Governmentfunded Council for Australian-Arab Relations (CAAR). This book is a proud record of our shared achievements to date, especially those of some of the companies which have made the economic relationship what it is today. It also provides many insights into the potential for further strengthening the ties between our two countries. I warmly commend Australia-UAE: Expanding Trade and Cultural Links to readers.
The Hon Simon Crean MP Minister for Trade
welcome
5
Foreword I am most fortunate to be Australia’s Ambassador to the United Arab Emirates during a period when trade and commercial links continue to grow dramatically, and wider bilateral relations are ever closer and more diverse. I am delighted, therefore, to have been invited to contribute a foreword to Australia–UAE: Expanding Trade and Cultural Links, the publication of which celebrates, records and reflects that growth. Some 15,000 Australians now call the UAE home; many more visit each year and hundreds of Australian companies are based across the Emirates, proudly contributing to the UAE’s astonishing development. Most are engaged in the services sector and, while many focus on construction-related areas, there is scarcely an industry that does not benefit from Australian involvement. Emiratis are increasingly turning to Australia for education and tourism. Australian goods and services are widely available in the UAE. They are finding new markets by capitalising on the UAE’s strategic location between Asia and Europe, and on the excellent air links that began relatively modestly in 1996. At the time of writing the UAE’s major airlines, Emirates and Etihad, fly between our two countries about 70 times each week, in each direction. That frequency is scheduled to increase to 112 weekly flights by 2011, enabling further growth in tourism and creating additional business opportunities. Bilateral trade has grown at a rapid pace. In 2007, the UAE was Australia’s thirteenth largest merchandise export market, with growth of over 50 per cent for the second year running, and five-year trend growth of nearly 19 per cent. Our merchandise exports to the UAE in 2007 were worth roughly twice those to Italy, France, Germany or Vietnam, and had almost overtaken those to Malaysia. But the relationship goes well beyond trade. Australia and the UAE have excellent political and military links. We share perspectives on a range of regional and global strategic and security issues. We are both tolerant, outward-oriented cultures, in which people from all parts of the world live together harmoniously and are free to practise their own religions. We face similar environmental challenges and are working together to meet them. I am privileged to be serving as Australia’s Ambassador to the UAE during these exciting times of growth and prosperity. I look forward to witnessing even closer bilateral ties in the years ahead.
HE Mr Jeremy Bruer Australian Ambassador to the UAE
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Foreword Since the formation of the United Arab Emirates, on 2 December 1972, the UAE foreign policy emanates from deep rooted and enduring certainties, and strives to foster friendly relations with other nations of the world on the bases of mutual respect, understanding, dialogue and cooperation. The UAE government has formulated a number of strategic trade policies designed to stimulate economic growth, strengthen the competitiveness of the national economy and attract international trade interest. As a result, in the recent years, the United Arab Emirates has become one of Australia’s fastest-growing trading partners. Given the similarity of the multicultural societies of both countries we experience a close exchange of trade, education, culture, tourism, services and investments. Many Australian companies have established a significant business footprint in the construction and building industry, with many UAE landmarks developed, built and managed by Australians. The UAE airlines led by Emirates and Etihad have been steadily increasing the number of flights and passengers traveling between the two countries. Dubai and Abu Dhabi are currently the centre of commercial interest in the UAE, but significant opportunities are increasing for Australian companies in other major UAE cities, notably Sharjah, Ajman, Fujairah, Ras al-Khaimah, and Umm al-Qaiwain. Though geographically distant, the warm and friendly nature of the interactions between the two nations today is being reinforced at every level. Visits exchanged by high-level officials on both sides such as HH Sheikh Dr Sultan Bin Mohammed Al Qassimi, member of the UAE Supreme Council and the Ruler of Sharjah, HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, Governor General of Australia and the Prime Minister have augmented these relationships. It is a confirmation that the UAE looks forward to lively transatlantic cooperation in all areas of public life, and the furthering of the development of our relations. Australia–UAE: Expanding Trade and Cultural Links is a thoughtful study of the relationship between our two countries. It will undoubtedly aid in the mutual understanding and open new gateways for a strong, lasting partnership.
HE Dr Saeed Mohammed Al Shamsi UAE Ambassador to Australia
foreword
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I
Introduction It is an honour to welcome you to the first publication of Australia–UAE: Expanding Trade and Cultural Links. As Chairman of the Advisory Group I would like firstly to thank all those who have made this publication possible. Thank you to the Governments of Australia and the UAE for supporting this publication and to the Australian Minister for Trade who has performed the role of Patron, HE Dr Saeed Mohammed Al Shamsi, UAE Ambassador to Australia and HE Jeremy Bruer, Australian Ambassador to the UAE who have both endorsed the publication. There are also a number of sponsors and members of the advisory board in Australia and the UAE who have contributed to the success of this important book. The publication of Australia–UAE: Expanding Trade and Cultural Links. is timely given the strength of the relationships, the cultural ties and the growing trade links between the UAE and Australia. The two economies are highly complementary and demonstrate excellent growth and exciting prospects. This is evidenced by the fact that the UAE is Australia’s second largest market in the Gulf region and many Australian companies use the UAE as a regional base due to its world-class transport, financial and communications infrastructure. In 2005 trade between the two countries totalled A$3.7billion. I am fortunate to have been involved in the UAE for many years and, most recently, in my capacity as Chairman for the Australian Government’s Council for Australian–Arab Relations (CAAR). CAAR provides programs aimed at fostering commercial, cultural, academic and social links between Australia and Arab countries. Through this association I have witnessed the strengthening of the bilateral understanding between the two countries and the development of the strong positive relationships between the cultural and business communities of the UAE and Australia. I am delighted to be involved in this publication, which I know will enhance the relationship between our two countries even further.
Dr Glen Simpson Chair Council for Australian–Arab Relations Executive Director Coffey International Limited
Introduction
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Roll of honour
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Premier
Dana Property Development LLC
Lead
Etihad Airways Tourism Western Australia Western Australian Department of Agriculture and Food Western Australian Department of Industry and Resources Western Australian Trade Office – Middle East
Major
Abu Dhabi Tourism Authority Al Habtoor Leighton Group ENSHAA Multiplex Toll Logistics (Asia) Limited TridonicAtco Australia Pty Ltd
Key
Academies Australasia Australian International Hotel School (AIHS) Australian World Trading Blue Mountains Hotel School (BMHS) The Cleanevent Group Coffey International Limited Convergence Capital Ltd Davids Group Emirates Airline Galleries Direct PricewaterhouseCoopers The Swann Group Tourism Development and Investment Company UTS International, University of Technology, Sydney
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Advisory group Patron The Hon Simon Crean, MP Australian Minister for Trade
Endorsed by
Endorsed by
HE Dr Saeed Mohammed Al Shamsi UAE Ambassador to Australia
HE Mr Jeremy Bruer Australian Ambassador to the UAE
Advisory group chairman Dr Glen Simpson Chair, Council for Australian–Arab Relations Executive Director, Coffey International Limited
Advisory group HH Sheikh Nahayan Mabarak Al-Nahayan UAE Federal Minister Higher Education and Scientific Research HE Mohammed Omar Abdullah Undersecretary Department of Planning & Economy, Abu Dhabi HE Dr Mohammed Saeed Al Kindi Former Minister for Environment and Water HE Saeed Khalfan Al Ghaith Former Minister, Chairman Desert Group HE Ahmed Shabeeb Al Dhaheri First Deputy Speaker UAE Federal National Council Executive Director, Scholarship Department Abu Dhabi Investment Authority Mr Jan-Willem Adrian Chief Executive Officer DHL Global Mail Oceania Mr Grahame Campbell Non-Executive Director Worley Parsons
Mr Cramer Ball Regional General Manager Asia Pacific South and Australasia Etihad Airways Ms Louise Denver Director Communication Financial Services Deloitte Former Executive Officer, NSW Australian Arab Chamber of Commerce and Industry
Mr Andrew Oldfield Distribution Development Manger Tourism Australia Mr Stephen Pearse Vice President, Australia Emirates Mr Graeme Robson Chief Executive – Middle East & Asia Multiplex
Mr Charles Jamieson AM Special Trade Envoy – Middle East State Government of Victoria
Mr Ian Ross Regional Manager, Middle East and Africa Meat & Livestock Australia Ltd
Mr David Knott Chief Executive Officer Dubai Financial Services Authority
Mr David Savage Managing Director Al Habtoor Leighton Group
Mr Tim Koster Joint Managing Director Convergence Capital Ltd
Mr Pankaj Savara Regional Director, Middle East & North Africa Western Australian Trade Office
Ms Jaqui Lane Chief Executive Officer & Publisher Focus
Mr Kelvin Templeton Managing Director Templeton Galt
advisory group
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Chapter one
The Australia– UAE relationship
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Australia’s ties with the United Arab Emirates extend from trade through to sport and the defence forces. This chapter gives a brief history of the two nations and how they are working together to improve upon and extend these links.
opposite The Anzac Bridge in Sydney. A wide diversity of trade marks the Australia–UAE relationship that goes beyond the skyscrapers that dominate the city skylines.
A
ustralia and the United Arab Emirates (UAE) have a strong relationship marked by a dramatic growth in trade over the past decade. Driven by the vision of its founders, and in less than a generation, the UAE has become the centre of trade for the Gulf region. The UAE’s advanced infrastructure and a rapidly diversifying economy make it an outstanding performer in the region. Australia and the Gulf Cooperation Council (GCC) (of which the United Arab Emirates is a member) are working to strengthen their links through commercial, military, cultural and educational relationships. This is demonstrated via ongoing negotiations for a Free Trade Agreement. In April 2008, the six-member GCC announced that it would introduce a single currency by 2010. Despite being separated by distance and culture, strong parallels exist between the UAE and Australian economies. Both countries are commodity exporters (the agricultural and mining sectors account for more than half of Australia’s export income, while oil accounts for a similar proportion of the UAE export earnings), and both have vast mineral reserves. Both economies are roughly equivalent in size (in GDP per capita terms) while the governments of both are pursuing policies that aim to reduce reliance on volatile commodity prices by strengthening and diversifying their economies. Both share many of the same export customers,
and import elaborately transformed manufactured goods from the same source countries. It is important to note that the main contributing factor for trade being so healthy between Australia and the UAE is that their exports are complementary—each country primarily sells to the other things the other doesn’t have or produce in sufficient quantities. A wide diversity of trade marks the Australia– UAE relationship. Austrade’s Chief Economist Tim Harcourt says the links between Australia and the UAE go beyond the skyscrapers and the cranes dominating the city skylines. At one of the country’s newest landmarks, the Burj Dubai, Melbourne’s Jeanette Bennett and Fred Douglas are managing the leasing of the shops. The food concept for the mall is being undertaken by Future Foods, a small Melbourne niche exporter. The mall’s aquarium, containing 35,000 tropical fish, sharks and stingrays, has been installed by the Melbourne company, Oceanis. Modelcraft, run by Sydney’s Matthew Roche, developed the entire site’s master plan. Financial data backs up the anecdotal evidence of strong links. The UAE currency is linked to the US dollar (3.671 dirham (Dh) to one American dollar). Australian merchandise exports to the UAE in 2007 were about A$3.065 billion. Few of Australia’s markets in the Gulf region have grown as quickly as the UAE, which is Australia’s thirteenth largest export market. Australia’s former Senior Trade Commissioner for the Middle East, Peter Linford, says he has seen massive growth in the number of Australian companies setting up in UAE to launch their Middle Eastern and North African operations.
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above A meeting of the six Gulf Cooperation Council (GCC) finance ministers in Abu Dhabi. opposite top An example of traditional Aboriginal rock art. opposite bottom English settlers with Aborigines— Australia’s first inhabitants.
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The UAE offers opportunities in areas as diverse as education and training, environmental technology and agribusiness as well as retail, hospitality, recreation and leisure activities. Nasa Multiplex LLC was one of the earlier Australian construction specialists to go to the UAE. A joint venture of Multiplex Constructions in Australia and Naser Abdullah Hussain Lootah’s Nasa Group of Companies, Nasa Multiplex today is a major building operator with various completed projects and several under construction in Dubai. Linford also points to the example of the University of Wollongong’s campus in Dubai and the success of leading agribusiness firms like GRM. Stewart Routledge, Director for the Middle East, North and East Africa and Central Asia for GRM, is one of many Australian business people to have built strong links with the UAE. Indeed, Australia has a high profile in the UAE. At the time of writing, the Australian Embassy in Abu Dhabi estimated that more than 300 Australian companies were based in the UAE, along with 15,000 Australian nationals. A mere six years earlier, in 2002, only 3000 Australian nationals
lived in the country. About a third of all Middle Eastern tourists to Australia are from the UAE. The rapid increase of those visitors, and the high number of UAE students studying in Australia, are prime drivers in this new engagement. Australian-owned companies are involved in steel trading, construction, financial services, banking, agricultural supplies and services, industrial minerals, dairy products, marine manufacturing, education and training services, sports and recreation, health services, livestock, oilfield supplies, courier and freight services. But the ties operate both ways. The UAE has hosted many high-level Australian visitors, including the governor-general, prime minister, defence minister, foreign minister, and trade minister, as well as state premiers. The Crown Prince of Abu Dhabi, HH Sheikh Mohammed bin Zayed Al Nahyan and Sheikh Mohammed bin Khalifa Al Maktoum are two of the most eminent UAE visitors to Australia in recent years. Other prominent visitors include Sheikh Hamad bin Zayed Al Nahyan and Sheikha Lubna bint Khalid Al Qasimi.
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Many of the UAE’s leading families spend long periods in Australia and have developed business links with Australian companies such as Sunland Group Limited who developed the Palazzo Versace Resort at the Gold Coast and DP World’s takeover of P&O stevedoring interests in Australia.
History of each nation Australia and the UAE share ancient histories. Western historians in the past primarily focused on early European contact with the Australian continent during the 16th and 17th centuries, when Portugal, Spain and Holland expanded their trade with Asia. But in recent years there has been more emphasis placed on the Oceanic and Asian traders who had contact with Indigenous people long before Europeans. No-one is certain when the ancestors of Australia’s indigenous peoples, the Aborigines and Torres Strait Islanders, first arrived, but it is generally accepted that human habitation goes back 40,000 years. European settlement of Australia began when Englishman Captain James Cook charted the east
the australia—UAE relationship
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coast of the country and claimed it for the British Crown. The First Fleet of 11 ships arrived with 1,500 people, half of them convicts, on 26 January 1788. After a number of difficult early years the convict settlement began to thrive and free settlers began to arrive, opening up new regions to settlement. In 1901, the six separate Australian colonies federated to become the Commonwealth of Australia. The UAE also has an ancient history stretching back more than 100,000 years. Stone tools from the Early Stone Age have recently been found along the edge of the Hajar Mountains. Prior to this discovery the earliest known human occupation for which there is evidence dated from the Neolithic period, 5500 BC or 7500 years ago. The country was formed from the group of tribally organised Arabian Peninsula sheikhdoms along the southern coast of the Gulf and the north-western coast of the Gulf of Oman. The area was converted to Islam in the 17th century. It became known as the Pirate Coast, because raiders were known for harassing foreign ships. In 1853, local sheikhs signed a perpetual maritime truce with the United Kingdom. It was enforced by the UK and disputes among the various sheikhs were referred to the British for settlement. The UK and the Trucial Sheikhdoms established closer bonds in the 1892 Treaty of Exclusive Relations in which the UK assumed responsibility for the sheikhdom’s defence and external relations— however, they were otherwise autonomous. The UAE’s fortunes changed with the discovery of oil in 1958 in Abu Dhabi. In January 1968, the UK announced its intention of withdrawing British military forces from the area by 1971. In March 1968, the Trucial States joined nearby Bahrain and Qatar (which were also under British protection) in what was named the Federation of Arab Emirates. It was intended that the Federation should become fully independent. Bahrain and Qatar both seceded from the Federation in 1971 to become separate independent states. The remaining six Trucial States: Abu Dhabi, Dubai, Sharjah, Umm al-Qaiwain, Ajman and Fujairah, agreed on a federal Constitution for achieving independence as the United Arab Emirates. The UAE became independent on
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2 December 1971. The remaining sheikhdom, Ras al-Khaimah, joined the union in February 1972. At independence HH Sheikh Zayed bin Sultan Al Nahyan of Abu Dhabi took office as the first President of the United Arab Emirates and he remained president until his death in 2004.
UAE political structure The UAE is a federation of seven emirates or kingdoms formed in 1971 and 1972 after independence from Britain. The UAE has enjoyed three decades of rapid economic growth and development since Abu Dhabi’s offshore oil exports began in 1962. Until 1972 the UAE was known as the Trucial States. Each emirate (Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm alQaiwain) maintains a large degree of independence. The Supreme Council of Rulers, consisting of the emirs or rulers of each emirate, governs the country. It is the highest authority in the UAE. The council elects the president (who acts as head of state) and vice-president from among its members. It also appoints the prime minister and
the cabinet. The Supreme Council reaffirms the existing president and vice-president, or elects a new one, every five years. The current president is HH Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, and HH Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, is the vice-president. The presidency and the prime ministership are hereditary to the Al Nahyan clan of Abu Dhabi and the Al Maktoum clan of Dubai, respectively. Among other responsibilities, the Federal National Council is the parliamentary body responsible for the annual budget and reviewing legislation. Each emirate manages its own internal affairs including infrastructure development, civil defence and schooling. Defence, tertiary education and telecommunications are managed at a federal level. The country has no political parties or elections. From December 2006, half of the Federal National Council, comprising members from each of the emirates, was indirectly elected. The federal judiciary, whose independence is guaranteed by the Constitution, includes the Supreme Court and the Court of First Instance.
above Sheikh Shakhbut bin Sultan was the Ruler of Abu Dhabi from 1928 to 1966. opposite Former President of the UAE and Ruler of Abu Dhabi, HH Sheikh Zayed bin Sultan Al Nahyan.
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above The Emirates Palace Hotel. Abu Dhabi is the capital city of the UAE and the focus of federal government activities. opposite Businessmen discuss the stock rates at the Abu Dhabi Securities Exchange.
Abu Dhabi is the capital city and the focus of federal government activities. The emirate of Abu Dhabi occupies 87 per cent of the UAE’s landmass. Its oil wealth has made it a very influential emirate. Dubai is another influential emirate. It is a modern, cosmopolitan city with vantage proximity to a market of over two billion people, making it the country’s natural centre of trade and commerce.
UAE economic climate The UAE is one of the world’s richest nations. The latest available economic indicators for the UAE, from 2006, detailed its gross domestic product at US$163.3 billion and GDP per capita at US$38,613. Real GDP growth was 9.4 per cent and inflation was 9.3 per cent in 2006. GDP growth is forecast to average 7.7 per cent a year over the five years to 2012, while the budget surplus will stay at an average 6.3 per cent of GDP. In 2007, GDP grew by 8.2 per cent, and was valued at US$186.2 billion. Inflation remains a threat to the economy. The Economist Intelligence Unit estimated inflation was running at 13.5 per cent in 2006. An inflation figure for 2007 was not
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available at the time of publication. To counter the effects of inflation, the UAE government announced in its 2008 budget it would give a 70 per cent pay rise to all public sector workers, almost all of whom are Emirate nationals. The UAE is a major player in the world’s energy markets. It holds the world’s third largest conventional oil reserves and fifth largest natural gas reserves. Abu Dhabi contributes as much as 93 per cent of the country’s total energy output and depends heavily on oil revenues. In the medium term, economists agree that the UAE economy is expected to continue to rely on its huge oil and gas reserves to underpin its economic development. These account for about a third of GDP, 40 per cent of exports, and the bulk of government revenue. Investment income is also substantial and provides a further boost to economic activity. The UAE has no personal or corporate income taxes. The UAE currently relies heavily on imports of goods and services. Further information on this can be found in Chapter 4: Bilateral ties between the nations. Opportunities exist in a
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number of industry sectors. These include building and construction, education, food and beverages, health services and pharmaceuticals. The UAE’s leaders have been trying since the early 1980s to boost private sector activity and lessen dependence on hydrocarbons. They believe it is a priority to reduce their vulnerability to fluctuations in world oil prices, and to plan for the economy after the oil resources are depleted. Each of the emirates has been pursuing different strategies to achieve that goal. Abu Dhabi is accelerating its strategy to become a world cultural destination and leverage its role as the seat of the national government. For example, in its most recent strategic blueprint, Plan Abu Dhabi 2030, the UAE government is planning to redevelop the national capital with sustainability as a major theme. The 2030 plan envisages construction of energy efficient housing powered by renewable energy, major green spaces and a state-of-the-art public transport system. The UAE’s second largest emirate, Dubai, has used its oil reserves to diversify its economy. It has established itself as a hub for tourism, information and communications technology (ICT), re-exports and finance, and has emerged as the leading entry point for trade with the Gulf and Middle East. Dubai has developed prestige hotels, massive port facilities and a range of free trade zones to attract manufacturing and services industries. Increasingly, other emirates are looking to emulate the Dubai model, albeit on a smaller scale. In November 2007, the Dubai Chamber of Commerce and Industry reported that the emirate’s exports had grown at an average rate of 28 per cent a year for the previous five years. Iran was the main export market, taking 15 per cent of total exports. Between 2002 and 2006, Iran imported goods worth Dh94.3 billion (US$25.67 billion) from Dubai’s total exports of Dh621.4 billion (US$169 billion). While Sharjah and Umm al-Qaiwain have been direct beneficiaries of Dubai’s rapid growth, they have also been seeking to differentiate themselves from their more high-profile neighbour. Both have a large manufacturing
base (Sharjah’s industrial zone covers 40 per cent of the emirate’s land area) and bustling ports. Sharjah’s main export markets are Saudi Arabia, Kuwait and Iran. Since 2000, its total exports have more than trebled and in 2006 stood at Dh13 billion (US$3.5 billion). Sharjah is expanding its multiinstitution university precinct and its international airport has become home to many regional carriers, aviation services and logistics companies. Sharjah’s Blue Souk is a major UAE tourist attraction. The more geographically isolated emirates of Fujairah and Ras al-Khaimah are experiencing more modest growth driven primarily by a strategy to boost inbound tourism and the local service sector. Both emirates are jumping-off points to the world-renowned Musandam peninsula in Oman, and have unspoilt beaches, a relaxed lifestyle and a more visible local population. They are seeking to build on those attributes to offer visitors a more authentic experience. Apart from tourism, major industries include agriculture, fishing, mining, the manufacturing of building materials and ports.
Abu Dhabi is accelerating its strategy to become a world cultural destination and leverage its role as the seat of the national government.
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above Australian Parliament House in the nation’s capital city, Canberra. opposite Australian exports of non-monetary gold to the UAE in the 2006-07 financial year were valued at US$526 million.
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Australian political climate Australia is a member of the Commonwealth and was formed in 1901 when six British colonies became a federation. Australia’s six states are Victoria, New South Wales, Queensland, South Australia, Western Australia, and the island of Tasmania, plus the Australian Capital Territory and the Northern Territory. The mainland of Australia comprises the world’s smallest continent. Australia is a constitutional democracy. Queen Elizabeth II is the Queen of Australia and the Head of State. The Governor-General is her representative. Australia has three branches of government: the Commonwealth Parliament; the Federal Executive Council; and the High Court of Australia. Each state has its own premier and manages its own internal affairs including primary and secondary education, health, and infrastructure. Defence, telecommunications and tertiary education are managed at the federal level. The country has two major political parties: the Australian Labor Party and the Liberal Party, which is in coalition with its minor partner, the National
Party. Several minor parties, including the Greens, are also represented in Australian parliaments. The Australian Labor Party, led by Prime Minister Kevin Rudd, was elected to office in November 2007. The city of Canberra is the nation’s inland administrative capital, though a third of the nation’s population of 21.1 million live in the two major east coast state capitals of Melbourne (Victoria) and Sydney (New South Wales). Another 20 per cent of the population is concentrated in the state capitals of the resource-rich states of Queensland (Brisbane), Western Australia (Perth) and South Australia (Adelaide).
Australian economic climate Australia is one of the most prosperous nations in the world. Its per capita GDP is slightly higher than France, Germany and the United States in terms of purchasing power parity. The United Nations 2006 Human Development Index ranked Australia third in the world. The country is benefiting from rising prices for its extensive commodity exports. But Australia lacks a large export-oriented manufacturing base. The
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service sector of the economy—including tourism, education and financial services—constitutes 69 per cent of GDP. Agriculture and natural resources make up 3 and 5 per cent respectively, but contribute significantly to exports. Australia’s largest export markets include Japan, China, the United States, South Korea and New Zealand.
Exports and imports The Australian Department of Foreign Affairs and Trade said major exports to the UAE in the 2006–07 financial year consisted of non-monetary gold valued at US$526 million; passenger motor vehicles US$299.8 million; zinc US$98.4 million; and meat, apart from bovine animals, US$82.2 million. Major Australian imports from the UAE in the same period were crude petroleum US$1,401 million; glassware US$10.8 million; steel or aluminium structures US$9.03 million; and steel tubes, pipes or fittings US$6.3 million.
UAE trade Foreign trade plays a significant role in the UAE economy. Oil and gas exports have enabled the
UAE to maintain a favourable balance of trade for many years. But non-oil exports and re-exports are slowly gaining importance, accounting for almost half of total exports. Japan is the main destination for UAE exports, and accounts for almost a quarter of the total. Other important markets include Korea and Thailand. The UAE maintains a relatively open trade system. It is one of the six members of the Gulf Cooperation Council (GCC). The other members are Bahrain, Kuwait, Oman, Qatar and Saudi Arabia. As part of an overall plan for greater GCC economic integration, the six GCC members implemented a Customs Union. The union’s aim is to eliminate all fees, taxes, customs and other obstacles to trade between member countries. A standard tariff of 5 per cent will apply to most imports from countries outside the GCC Customs Union. Free trade agreement negotiations between Australia and the UAE began in 2005, and were converted to broader GCC-wide negotiations in 2006. Australia hopes a free trade agreement between it and the GCC will extend trade between Australia
Foreign trade plays a significant role in the UAE economy. Oil and gas exports have enabled the country to maintain a favourable balance of trade for many years.
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above Tourism between Australia and the UAE is expanding due to improved air links. centre The Gold Coast, Queensland. The 2007 World Competitiveness Yearbook ranked Australia as the most resilient economy in the world for five of the past six years.
and the Gulf, as well as closer political cooperation and the extension of cultural exchanges. Tourism and business travel is also expanding because of continuing growth of air services between Australia and the UAE. An Air Services Agreement was signed in March 2007 that provides an increase in capacity entitlements for UAE carriers to Australia. Education links are also increasing. The number of UAE nationals studying in Australia continues to grow by 30 per cent a year, making the UAE the third largest market in the Middle East for Australian student recruiters. UAE students in Australia totalled 1120 at the end of 2006 and had well exceeded that figure by 2008.
Australian trade Foreign investment in Australia plays a significant role. Australia welcomes foreign investment, trading on the nation’s economic strength and cultural diversity, through to its groundbreaking research and development and highly skilled workforce. Over the five years to June 2007, the stock of foreign direct investment
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in Australia increased by 155 per cent to reach US$279 billion. Australia also benefits from its strategic position in the Asia–Pacific, the world’s fastestgrowing region. For this reason more than 850 multinational companies have opened regional headquarters or operating centres in Australia. The Asia–Pacific is increasingly being called the “engine room” of world economic growth. Asia is home to more than 60 per cent of the world’s population and is steadily growing richer. Consensus Economics and the IMF both forecast that by 2015 Asia’s economies will account for 45 per cent of world GDP, (based on purchasing power parity), significantly more than the United States and Europe combined. The 2007 World Competitiveness Yearbook ranked Australia as the most resilient economy in the world for five of the past six years. It went further, noting the economy was now in its seventeenth year of uninterrupted growth— the longest boom in its history. Australia’s business environment is one of the most politically and economically stable in the region,
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something the international community regards very highly. The Australian Trade Commission (Austrade) website www.austrade.gov.au lists competitive wages and low costs for property, construction, transport, utilities, and research and development as reasons for Australia being one of the most competitive business locations in the developed world. The labour pool is highly skilled and multilingual. Almost a third of the professional workforce has tertiary qualifications and about three million people are fluent in a second language. Australia also boasts an advanced education system, along with the public and private sector investment in research. Australian government figures show the country spends more public money on research and development as a percentage of GDP than the United States, Japan, Canada and the United Kingdom.
Strong ties between nations Bilateral ties between Australia and the UAE are not limited to trade relationships. The two nations are working together in a number of different
areas from exchanges in military personnel to cultural links, through to cooperation in multilateral forums such as the World Trade Organization (WTO) and the Food and Agriculture Organisation (FAO). The Australian Government established the Council for Australian–Arab Relations (CAAR) in January 2003 to promote mutual interests between Australia and the Arab world. CAAR’s aim is a greater understanding and acceptance of each other’s cultures and encouraging activities that lead to mutual economic benefit. Dr Glen Simpson is the current Chairman. Australia and the UAE also share strong sporting ties, from horseracing to the rugby sevens. The sponsorship by Emirates Airlines of the Melbourne Spring Racing carnival is as well known as the participation of Australian cricketers at Sharjah tournaments. These common sporting interests even extend to Australian Rules, with Emirates Airlines having signed a sponsorship deal with the Collingwood Football Club. These links are further developed in Chapter 5: Culture and lifestyle.
above The Australian cricket team celebrate with the trophy as they wrap up the Test and the series 3-0 after day four of the Third Test between Pakistan and Australia played at Sharjah International Cricket Stadium in Sharjah in 2002.
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profile
Building relationships and strengthening ties
F above HE Saeed Khalfan Al Ghaith has held the following posts: Director of Political Department, Ministry of Foreign Affairs (1972-1973); Minister of State Information (1973-1977); Minister of Planning, Chairman of the National Computer Centre (1981–1985); Minister of Cabinet Affairs, Chairman of Civil Service Council (1975-2006) and Chairman of UAE Administration Development Institute (1981-2006).
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orty years ago, I and many others used to think that visiting Australia, thousands of miles away from this part of the world, was an unlikely dream. In 1970, the opportunity finally came through an official visit to a trade exhibition of Australian industrial and consumer goods in Dubai. It was an amazing surprise to discover that Holden cars are actually an Australian production. Holden’s were a vehicle favoured immensely in the United Arab Emirates due to their outstanding off-road performance at the time. In 1981, I was privileged to have another chance to visit Australia, this time to attend a conference organised by the International Institute for Public Administration in Canberra. This was a great opportunity after declaring the rise of political relations between Australia and the UAE. Aside from the conference, I was happy to meet with the Australian Foreign Minister, and had also the chance to meet with other Australian officials to explore the possibilities of creating prosperous relations in many sectors. It was my feeling that geographical distance should not be an obstacle for good relations between our countries, especially if the relationship is built on a solid ground of cooperation, collaboration, trust and mutual respect. In 2000, another opportunity for strengthening relations was created for personal reasons. The interest in establishing commercial links in various sectors, particularly in Adelaide, was of great importance to me. During this time, I had the honour of meeting the Australian Prime Minister in Dubai. He was
interested in the UAE and the potential for cooperative opportunities with Australia. It was an opportunity to meet with the first Australian Ambassador to the UAE in that visit before presenting his credential papers. I was privileged twice to represent the government of the UAE in the Australian National Day Ceremony held in Abu Dhabi. In 2003, I was formally invited to Adelaide by the Australian Government and was honoured to meet with the Governess, the South Australian Premier and many political and business personalities to attend various political and commercial conventions. It was another successful trip due to the generosity of its organisers. Today, we witness a solid relationship between Australia and the UAE, a relationship not only on commercial and political levels—it’s more farreaching than that. It is humanitarian relations that have tied the two nations together over the years. So the distance became proximity and the relationship continued. Proof of that is the percentage of UAE families’ annual visits to Australia, and when asked about the Australians, the answer will always be: “They’re good people”. I can now say that thousands of miles of distance will not prevent the continuity of strong Australian–UAE cultural, social and commercial relations. Forty years later I confirm that communication with Australia is a fruitful venture—it is a confirming truth. HE Saeed Khalfan Al Ghaith Former Minister, Chairman Desert Group
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profile
Business environment in the UAE
T above David is a former Chairman of the Australian Securities and Investments Commission (ASIC) and was Chairman of the Technical Committee of the International Organisation of Securities Commissions (IOSCO). Other positions previously held by him include COO of the Australian Prudential Regulation Authority (APRA); CEO of Commonwealth Funds Management; CEO of the Australian Financial Institutions Commission (AFIC) and Director of the Australian Crime Commission.
he UAE is fast developing as the most important financial hub in the Middle East. Over recent years there has been a growing preference for international firms to headquarter their regional operations in the UAE, often extending their reach beyond the Gulf countries to North Africa and the sub-continent. While the UAE and other GCC countries are core target markets, the broader region comprises a combined GDP exceeding US$4 trillion and a population of two billion people. As readers of this book will discern, opportunities for financial services firms arise from a combination of private family wealth, massive infrastructure development, widespread economic diversification and sovereign investment transactions. Australian financial institutions have been slower to respond to these opportunities than their international counterparts, partly (and understandably) because of other emerging market opportunities closer to home. But there are signs of increasing interest in the region, encouraged by expanding trade and investment links and a growing Australian business presence within the Gulf. In comparative terms, the UAE is well positioned to compete as the host country for Australian financial institutions operating in the Middle East. Although proudly Muslim, the UAE has fostered a culture of inclusion and social tolerance that enables expatriate families to establish a comfortable and secure lifestyle. Development and business policies are generally “business friendly” with a high government priority placed on further opening the economy to foreign participation and raising conduct of business standards to international norms. Some of the challenges confronting first-time entrants to the country are noted
elsewhere in this book but, overall, the benign cultural and business climate within the UAE explains its popularity as a domicile of choice for financial firms entering the region. In addition, the UAE offers a distinctive and attractive venue for conducting financial services operations: the Dubai International Financial Centre (DIFC). For Australian firms proposing to transact capital markets business, funds management, trade finance, private banking, investment banking (M&A and project finance)—or even the fast growing area of Islamic Finance—the DIFC will warrant serious consideration. As a “Financial Free Zone” the DIFC has a range of taxation and ownership features that are not yet available elsewhere in the UAE. Equally importantly, it provides an operating environment, including a regulatory and judicial structure, that will be familiar to Australian firms and is aligned with international standards. Since its launch in 2004 the Dubai Financial Services Authority (DFSA) has issued more than 200 financial services licences to firms within the DIFC, including many of the world’s largest investment banks. Transactions within the DIFC are primarily denoted in US dollars, Euro or other foreign currency and are exclusively regulated by the DFSA. Australian banks wishing to participate in the UAE domestic dirham market will require a Central Bank licence and will be subject to its supervision. It is impossible to fully understand the business opportunities offered by the UAE without visiting the country. I would strongly encourage Australian financial institutions to do so. David Knott Chief Executive of the DFSA
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SHEIKH MOHAMMED BIN KHALIFA AL MAKTOUM INVESTMENT GROUPS
Sheikh Mohammed Bin Khalifa Al Maktoum Investment Groups Shiekh Mohammed Bin Khalifa and the various organisations he represents are trustworthy partners for any Australian.
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heikh Mohammed Bin Khalifa Al Maktoum Investment Groups are owned and operated by His Highness Sheikh Mohammed Bin Khalifa Al Maktoum, sometimes simply known as Sheikh Mohammed Bin Khalifa. An admirer of the natural beauty of Australia, the proud tradition of thoroughbred breeding and racing, and a strong supporter of the UAE–Australian relationship, Sheikh Mohammed and the various organisations he represents are trustworthy partners for any Australian. A cousin of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai and Prime Minister of the seven-state UAE, Sheikh Mohammed Bin Khalifa is proud to have held the position of Chairman of the Lands Department in Dubai for the past three decades. After growing up with his illustrious cousin, going to school with him, then receiving a tertiary education with him in England at the Bell School of Languages (where they were taught English),
Sheikh Mohammed Bin Khalifa came back to Dubai, while HH Sheikh Mohammed Bin Rashid went to military school in the UK to further his interests in the armed services. Sheikh Mohammed Bin Khalifa has played a central role in Dubai’s emergence as one of the world’s most attractive tourist destinations and business hubs, yet he is the first to stress that the Dubai one sees today is primarily the result of the vision of HH Sheikh Mohammed Bin Rashid. Sheikh Rashid appointed Sheikh Mohammed Bin Khalifa to his current position in 1971, entrusting him and his department to realise the Sheikh’s vision for Dubai, which will transform the great city one sees today into a remarkably different and even more significant metropolis by 2015. Despite popular misconceptions, Dubai and the UAE are far from dependent on oil for their economic wellbeing. On the contrary, their current and future incomes are based on tourism and property development.
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Through the Lands Department, Sheikh Mohammed Bin Khalifa and his staff conduct business valued at AED3 billion or more per month. One of their multiple responsibilities is administering, streamlining and regulating the strong demand for property in the UAE, and the award of business rights to foreign investors. To ensure each of these tasks is accomplished effectively, HH Sheikh Mohammed Bin Rashid has instituted a new law to protect local and foreign investors. While foreigners are allowed to develop land in the UAE, any developer (local or international) must establish a trust account (escrow) for investors funds to be credited to and utilised specifically for the linked project. In addition to ensuring all parties’ financial commitments are met, the legislation provides other investors with an opportunity to enter the market. HH Sheikh Mohammed Bin Khalifa is aptly assisted in this role by Mohammed Khaleel, CEO of the Sheikh’s Investment Groups. Sheikh Mohammed Bin Khalifa Al Maktoom has extensive experience in real estate as evident through his efficient leadership of the Dubai Land Department.
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SHEIKH MOHAMMED BIN KHALIFA AL MAKTOUM INVESTMENT GROUPS
Al Adiyaat “It is the aim of Al Adiyaat to buy horses anywhere in the world, it doesn’t matter where,” says Sheikh Mohammed Bin Khalifa.
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I
n addition to a thriving passion for business and property development, Sheikh Mohammed Bin Khalifa has an undoubted love for thoroughbred horses. The Sheikh’s equine affair commenced in 2000 when he and his right-hand man, Mohammed Khaleel, drove by the Dubai Polo Grounds on the way to the Sheikh’s Palace. They decided to pull over to investigate and soon became involved in the “Sport of Kings”. The Sheikh’s involvement quickly led him into a second equine affair, that of thoroughbred racing. He invested in Sir Clive, by Bigstone, in New Zealand. Shortly afterward, the steed placed second in the New Zealand Derby. The Sheikh then flew Sir Clive to Australia to contest the Australian Derby, where it won second place. Mohammed Khaleel subsequently commenced a study of thoroughbred pedigrees which enabled the Sheikh to establish and develop an Australian thoroughbred breeding and racing operation under the banner of Al Adiyaat.
Back in the UAE, the growing popularity of the Dubai Racing Carnival prompted Sheikh Mohammed Bin Khalifa to extend his operation in 2006 to that city, at which time Mike de Kock was recommended as a trainer to support him in his racing endeavours. After meeting with Mike, the Sheikh accepted the recommendation, as he did Mike’s subsequent suggestion that he make Candy Critic the Sheikh’s first South African purchase. The deal was secured just a few weeks before the South African Oaks was won in good style by Candy Stripes, Candy Critic’s daughter. And so Sheikh Mohammed Bin Khalifa’s first South African runner was a winner, like his first Dubai runner 10 years earlier. Later that year, Sheikh Mohammed sent Mike to Argentina to buy rising star Husson, by Hussonet, but the deal fell through. Nonetheless, on the same trip Mike came upon Asiatic Boy, a one-time winner who had finished second to Husson, and secured him at a better price. Asiatic Boy’s sparkling performances since then include
the 2007 Dubai Triple Crown and a second in the 2008 Dubai World Cup. In 2008 came another one-time winner, Honour Devil, who swept away the opposition in Dubai to win the Grade 2 UAE Derby, and Archipenko, who was snatched from relative obscurity in the UK to achieve glory in Dubai and Hong Kong. With three aces in his hand of cards, Sheikh Mohammed is keen to make a huge success of Mike’s English raid this year, and says he will support his trainer with whatever is required, including a stable complex with its own track and first-class facilities. “It is the aim of Al Adiyaat to buy horses anywhere in the world, it doesn’t matter where,” he says. “If Mike finds the right ones, we will buy them as we’d like to win big races all over the world, in the UK, the USA, Australia and South Africa!’’ But Sheikh Mohammed doesn’t have a desire to be as prominent as the renowned Godolphin stables. “There will never be a contest for glory or world racing domination between myself and His Highness Sheikh Mohammed Bin Rashid Al Maktoum. We are competitors on the racetrack, like we were years ago when we rode against each other in endurance races, but that is where it stops.”
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SHEIKH MOHAMMED BIN KHALIFA AL MAKTOUM INVESTMENT GROUPS
Dana Property Development Dana Property Development endeavours to enhance the property development revolution in the UAE at a prestigious level.
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A
s a member of the Sheikh Mohammed Bin Khalifa Al Maktoum Investment Groups, Dana Property Development has been under the sole ownership of His Highness Sheikh Mohammed Bin Khalifa Al Maktoum since March 2007. A leader, an innovator and an inspiration to all, the Sheikh has been spearheading the operations of the Dubai Land Department for over three decades. Dana Property Development endeavours to enhance the property development revolution in the UAE at a prestigious level. Moreover, within just a few short years, the organisation aspires to become a renowned developer on the larger global platform. Dana Property Development’s projects are designed by esteemed international architects and constructed by reputable world-class building contractors, which enables the company to create developments that offer added value to its investors.
Dana Property Development is managed by Mohammed Khaleel, its Chief Executive Officer. Mr Khaleel has been steadfastly driving the growth of the Sheikh Mohammed Bin Khalifa Al Maktoum Investment Groups for over a decade, and has a proven track record of remarkable achievements. As Mr Khaleel knows only too well, a company’s richest resource is its people. They give it its soul, its values and its reason for being. Darwish Abdullah Al Bishri, Director of Dana Property Development, brings years of industry knowledge and expertise to the company. The employees of Dana Property Development come from varied backgrounds and diverse cultures. This melting pot of ethnicities is precisely what makes it unique and successful. Its expertise ranges from engineering and architecture to banking and finance, sales and marketing to information technology, and operations to client services. “We have built our business on a foundation of strong beliefs and intrinsic values,” says
Mr Khaleel. “Our employees apply our core beliefs to build better futures for us all.� His Highness, Mr Mohammed Khaleel and Mr Darwish Abdullah Al Bishri help meet UAE consumer needs by providing unique and exclusive projects in prime locations. Dana Property Development is confident of delivering properties that will exceed investors expectations. They believe that every client deserves the opportunity to invest in the best. To ensure they receive the opportunity to do so, his Highness and he collaborate with leading banks and financial institutions to offer the best interest rates on lending options exclusively for their projects. Their passion is developing projects in which people enjoy living, playing and working. They are convinced that the best way to offer quality of life to their clients is to provide them with world-class properties. Dana is committed to developing properties which express a way of life, both contributing to and enhancing the community and surrounding environment. This ensures longlasting value to owners and occupants alike. The right building in the right location at the right price brings Dana’s customers assurance in their investment choice.
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etihad airways
Etihad Airways Etihad offers its award-winning services to destinations in the Middle East, Africa, Asia, Australia, Europe and North America, from its base in Abu Dhabi, the capital of the United Arab Emirates.
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tihad Airways, the national airline of the United Arab Emirates, made its first flight on 5 November 2003. Since then it has added more than 45 destinations, becoming the fastest-growing national airline in the history of commercial aviation. Etihad offers its award-winning services to destinations in the Middle East, Africa, Asia, Australia, Europe and North America, from its base in Abu Dhabi, the capital of the United Arab Emirates. In 2007, Etihad carried more than 4.6 million passengers, up from only 340,000 in its first full year of operations in 2004. In the first half of 2008, Etihad carried 2.8 million passengers—41 per cent more than in the same period the previous year. By the end of 2008, Etihad expects to carry more than six million passengers. Etihad operates one of the youngest and most environmentally efficient fleets in the world, which is set to grow to 50 by the end of 2008 and 52 by the end of 2011. Etihad began life with the
largest-ever start-up fleet order, announced in 2004, for 29 Airbus and Boeing widebody aircraft with a total value of US$8 billion. His Highness Dr Sheikh Ahmed bin Saif Al Nahyan, a qualified pilot, is chairman of Etihad Airways. James Hogan, the CEO, joined the airline in October 2006.
Our service Etihad Airways aims to offer the highest standards of service and comfort on the ground and in the air. Customers can enjoy world-class cuisine, award-winning flat-beds in premium cabins and the widest seats in economy, as well as more than 500 hours of on-demand in-flight entertainment.
Diamond first class • Award-winning flat bed with 80-inch seat pitch • 180° rotating seat • Seat layout 1-2-1 • In-seat massage facility
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• In-seat dining for two or four people • Individual wardrobe • In-seat beverage compartment • In-seat storage
Pearl business class • Award-winning flat bed with 72-inch seat pitch • 19.7-inch width • Seat layout 1-2-1 • In-seat massage facility
Coral economy class • 32 – 33 inch seat pitch • 17.3-inch width • Seat layout 2-4-2 • In-seat power
Our service Etihad Airways’ new in-flight style ensures customers receive service individually tailored to their needs. Drawing inspiration from quality hospitality environments across the world—such as 5-star hotels and restaurants— and reflecting Etihad’s Arabic heritage, its new in-flight service is much more personal and focused on the individual.
In first class, the style and atmosphere is linked closely to a fine dining experience, similar to what a customer would expect in a leading international restaurant. In business class, the service is stylish, understated and attentive. Passengers can eat “on demand”, anytime, from new a-la-carte and kitchen menus. These include a wide choice of top quality beverages, a new choice of food dishes and service with new crockery, glassware and linen. Etihad is also pleased to offer the services of an onboard Food and Beverage Manager, responsible for championing the quality, presentation and delivery of food and beverages onboard, ensuring it is consistently to the highest standards.
Our airport lounges Our new Abu Dhabi lounge facilities represent a major investment and demonstrate the airline’s commitment to world-class premium products and services for first and business class customers, both in-flight and on the ground. First class customers can eat prior to their flight in a new fine dining area, which offers a-la-carte and snack menus. All meals are prepared by the chef in an “open kitchen” and accompanied by a range of beverages.
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etihad airways
Other key features of the new-look first and business class lounges include a TV “den” area, a hi-tech computer and electronic games room, library, relaxation zone, an airfield viewing deck as well as a “well-being” area where customers can enjoy a range of rejuvenating spa treatments.
Etihad Crystal Cargo Etihad Crystal Cargo was launched in September 2004 and currently serves more than 50 destinations across the Etihad network and includes a dedicated fleet of three air freighters. It has a further 13 cargo freighter destinations, including Addis Ababa, Bangalore, Lagos, Shenzhen and Shanghai. Demand for Etihad Crystal Cargo services continues to grow in 2008. In the first three months of 2008, Crystal Cargo had more than 60,000 global shipments, an increase of 20 per cent when compared to the first three months of 2007.
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Etihad Crystal Cargo recently introduced a new SMS (short message service) tracking system for its customers, enabling them to follow the status of freight shipments worldwide via mobile telephone.
Etihad Guest The airline’s award-winning Etihad Guest loyalty programme now boasts more than 350,000 members and is expected to exceed the half a million mark by the end of 2008. The Etihad Guest Reward Shop offers members the chance to exchange miles for up to 750 rewards from 70 different partners, ranging from luxury chocolates to the “007 James Bond Experience”. Etihad Guest continues to set new standards within the world of loyalty programmes. “Family Membership”, for example, allows up to eight family members to pool collectively earned miles into a single account to be enjoyed and shared by everyone.
Etihad Guest has been nominated in no less than nine separate categories at the 2008 Freddie Awards, the main global “Oscars” for loyalty programmes.
Our people As the UAE’s national airline, Etihad Airways encourages and actively promotes the recruitment and career development of UAE nationals within a multicultural workforce that now includes 116 nationalities. Etihad has launched three key Emirati training programmes: cadet pilots, graduate managers and technical engineers. More than 6000 people work for Etihad Airways, with new joiners arriving every month to support the airline’s rapid expansion.
Our sponsorships International sports sponsorship plays a central role in Etihad’s global marketing strategy as it seeks to develop its profile in markets across the world. Etihad has a three-year deal to be title sponsor of the Abu Dhabi Grand Prix. The Formula 1 Etihad Airways Abu Dhabi Grand Prix will run from the 2009 season. Etihad strengthened its presence in Formula 1 in March 2008 with the announcement of a three-year sponsorship deal with Scuderia Ferrari, the current F1 world championship racing team. Etihad also sponsors Chelsea Football Club and Harlequins Rugby Football Club. As the official airline of Chelsea, Etihad receives highlevel global exposure throughout the English Premier League season and has run a number of Chelsea-related promotions and events in both Abu Dhabi and London. The first major sports sponsorship in the UK was the three-year deal with Harlequins rugby football premiership team, which was signed in July 2007. This deal sees the Etihad logo on the team’s shirts as well as on the roof of the Twickenham Stoop stadium in London. Etihad also sponsors the GAA All-Ireland Hurling Championships, Ireland’s most popular sport both in terms of participation and spectators.
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37
Perth, Western Australia—Gateway to Australia
UAE
PERTH
Perth, Western Australia—Gateway to Australia With the State’s booming economy leading Australia through a period of prosperity, Western Australia provides a buoyant investment climate, particularly within the tourism sector.
W
estern Australia is an ideal location for business, investment, study or a holiday. The largest State in Australia, Western Australia has a diverse landscape ranging from rugged outback areas to lush green forests and a vibrant city. Stretching 12,500 kilometres around the State is a stunning coastline of white sands against turquoise waters.
technology, marine, defence, biotechnology and manufacturing. As a place to work and do business, Western Australia is vibrant and full of exciting possibilities, and is in close proximity to the growing market potential of the Asia–Pacific region. Western Australia is a land of opportunity for the United Arab Emirates.
Western Australia has it all
Australia–UAE: Expanding trade and tourism links
Western Australia has a diverse and internationally competitive economy and for the past 10 years, it has led Australia in economic growth, productivity, investments and exports. Western Australia is well-known for its worldclass mineral, petroleum and agriculture sectors and this has provided a base for the development of a thriving business environment. Western Australia’s capabilities extend to education, research and development, resources engineering, science, information and communications
Western Australia and its vibrant capital city of Perth offer many exciting opportunities for holidays, business and tourism investment from the United Arab Emirates. With the State’s booming economy leading Australia through a period of prosperity, Western Australia provides a buoyant investment climate, particularly within the tourism sector. Evidence of this enviable position is Perth’s hotel sector which is currently recording stronger growth than any other Australian city. Western Australia is enjoying
See page 168 for contact details
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an extended upward economic cycle and is actively seeking international investors looking to benefit from the double-digit growth anticipated for the next five years. The Government of Western Australia is playing its part to secure the State’s long-term future, investing in ambitious multimillion dollar projects that are set to change the face of Perth and Western Australia. Developments include the Perth Waterfront Project which will create an exciting business, tourism, residential and entertainment hub and put Perth in the international spotlight. Other multimillion dollar investment plans include sports and entertainment stadiums, an arts centre and museum. These projects will help position Western Australia as an appealing destination for investors and visitors alike. Importantly, sustainability and a focus on the environment is a key factor in all developments. With direct air access between Dubai and Perth, excellent private and public sector support, and numerous development opportunities, Western Australia is sending the message that it is very much open for business. There has never been a more exciting time to be a part of the State’s tourism industry. The people and Government of Western Australia look forward to welcoming visitors and business investors from the United Arab Emirates in the near future. As well as a booming economy, Western Australia offers tourism experiences unlike anywhere else in the world. The State’s pristine natural environment, fresh local food and award winning wines, pristine beaches, and a temperate climate provide developers with unique and distinctive destinations that are sought after the world over. Western Australia is well positioned to take advantage of the trend towards luxury eco-chic experiences appealing to well-heeled discerning travellers. The State’s vast regional landscape which ranges from green forests and blue waters of the Indian Ocean, to the deep red earth of the outback creates an authentic yet unique Australian experience.
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Perth, Western Australia—Gateway to Australia
Western Australian agriculture The Western Australian Government strongly supports the establishment and expansion of industries targeting export market growth, particularly in the area of agricultural production and value adding through further processing. The Department of Agriculture and Food is committed to accelerating the success of Western Australia’s agriculture, food and fibre industries through information, science and innovation, industry development, responsible management of natural resources, policy development and regulation across all elements of the supply chain. Western Australia’s world-class agricultural and food industries provide premium quality food and beverage products to customers throughout the world, including significant exports to the Middle East. The agriculture and food sector generates exports valued at around A$5 billion for the Western Australian economy each year. Food manufacturing makes up nearly 15 per cent by value of manufacturing industries in Western Australia; food processing, agriculture and fisheries production make up about 9 per cent of Gross State Product.
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Western Australia exports 80 per cent of its agricultural production and has an international reputation for meeting the specific food safety and quality requirements of overseas customers. Comprehensive biosecurity measures are in place to protect Western Australia’s reputation for “clean and green” products. Through the Department of Agriculture and Food, the Western Australian Government continues to invest in and assist Western Australia’s agriculture and food industries to promote the long term profitability and maintain premium international markets for the State’s food and fibre products and services. The fast growing population and wealth of the Middle East is opening up tremendous opportunities for Western Australian food and agriculture producers and exporters, with the value of exports to the region averaging more than A$1 billion per year over the past three years. The State’s major agricultural and food exports to the Middle East are wheat, sheep, barley, cattle, meat, canola and horticultural products. In addition there is increasing demand for high quality processed food. The UAE is the most diversified market for products from Western Australia with imports
including grain, live sheep, meat, fresh produce, honey, stockfeed, pearls, lobster and essential oils. There is potential to increase exports to the UAE, particularly with the two daily direct flights from Perth to Dubai. Agriculture and food exports to the UAE increased from A$55 million in 2004/05 to A$160 million in 2007/08. Western Australia is also an ideal base for food and beverage companies seeking to produce safe, premium quality food and ingredients for rapidly expanding markets and quality conscious consumers worldwide. There are a range of opportunities available for investors in the agri-food industry in Western Australia including production, processing and export of grain and fodder, meat and live animals, dairy and horticultural products. WA Government officers are available to assist companies to evaluate and commercialise these opportunities. AGWEST International is the consulting arm of the Department of Agriculture and Food Western Australia and offers worldwide consultancy services in agriculture and agribusiness. AGWEST International works in partnership with government agencies, international funding agencies and other organisations in the Middle East, Africa, and Asia in providing project
management, specialist professional and technical services as well as capacity building services and customised training packages. Recent projects in the Middle East include technical input into the Soil Survey of Abu Dhabi, assisting the Environment Agency of Abu Dhabi prepare a biosecurity strategy and a review of the proposed Qatar Fisheries Research Centre.
Doing business with Western Australia The Western Australian Government welcomes international investment. For those interested in setting up a business or investment in Western Australia, there is a State Government department that is dedicated to facilitating investment. Western Australia has a network of fifteen overseas trade offices. The Western Australian Government also has a range of agencies to help those interested in migrating, studying or simply planning a holiday to WA. The Western Australian Trade Office in Dubai facilitates commercial, educational, investment and cultural ties between the Middle East and Western Australia. They are available to help Middle East investors take advantage of this diverse range of business opportunities.
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Index A
Aboriginal Australians 17, 142, 149, 157 Abu Dhabi 18–19, 20, 69, 74, 132 construction and engineering 106–107 health 137 Masdar City 119 Plan Abu Dhabi 2030 21, 69, 72, 77, 106 sovereign wealth 20, 109 tourism 141 Abu Dhabi Airports Company (ADAC) 101 Abu Dhabi Authority for Culture and Heritage 144 Abu Dhabi Commercial Bank (ADCB) 104–105 Abu Dhabi Education Council 135 Abu Dhabi Golf Championship 145 Abu Dhabi Grand Prix 37, 155 Abu Dhabi International Airport 101–102 Abu Dhabi Investment Authority (ADIA) 46–47, 71, 113 Abu Dhabi Media Company 113, 114 Abu Dhabi Tourism Authority (ADTA) 154–155, 156, 162 AC Milan 147 Academies Australasia 159, 162 Adam, Margaret 113 ADCB Macquarie Corporate Finance LLC 104–105 address, systems of 133 Al Adiyaat 30–31 advertising in Australia 116–117 in UAE 116 Agassi, Andre 140 agribusiness and food in Australia 99–100 in UAE 99 AGWEST International 41 Ahmad bin Byat 69 Ahmed bin Humaid Al Nuaimi, Sheikh 147 Ahmed bin Saeed Al-Maktoum, HH Sheikh 153 Ahmed bin Saif Al Nahyan, HH Dr Sheikh 34
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Ahmed Mohammed Hasher Al Maktoum, Sheikh 146–147 Al Ain 74, 77, 141 Air Arabia 77 Air Services Agreement 24 Airbus 100 airlines and air transport in Australia 52, 102 in UAE 100–102 Ajman 18–19, 72 Ajman Free Zone 109 al-Mulla, Abdullatif 115 al-Sayegh, Abdullatif 115 Al-Shareef Group 136 alcohol consumption 54, 80, 81 AMEInfo 106 annual reports 59 ANZ 104 Arab actors 115 Arab Human Development Report 137 Arab Journalism Award 85 Arab Media Group (AMG) 112, 115 Arabian Canal (Dubai) 108 Arabian Peninsula 18, 71 Arabtec 101 Arsenal Football Club 147 Asia hotel (Dubai) 108 Asian Football Confederation 147, 148 Asian investment boom 110 Asia–Pacific 24, 45, 59 Association to Advance Collegiate Schools of Business (AACSB) 158 AT Kearney 45 Austrade 15, 24 Australia as a business location 45–47, 55–57 foreign investment in 24–25, 45, 48 political structure 22 Australia Greenhouse Office 111 Australian Agency for Education and Training 136
Australian Building Codes Board (ABCB) 111 Australian Bureau of Statistics 50, 112 Australian Competition and Consumer Commission (ACCC) 60 Australian Conservation Foundation 118 Australian Constitution 59 Australian Customs Service 55 Australian Information Industry Association 114 Australian International Hotel School (AIHS) 159, 163 Australian International School 136 Australian Koala Foundation 118 Australian Labor Party 22 Australian Muslims 50 Australian Procurement and Construction Council 111 Australian Prudential Regulation Authority (APRA) 60 Australian Quarantine and Inspection Service (AQIS) 55, 100 Australian Rules 25 Australian Securities and Investments Commission (ASIC) 57, 60, 105 Australian Trade Commission 15, 24 Australian Water Data Infrastructure Project (AWDIP) 111 Australian Wildlife Conservancy 118 Australian World Trading 63, 163 automotive and manufacturing in Australia 47, 103–104 in UAE 102–103 AXA Retirement Scope 46
B
Bahrain 18, 23 barriers to entry 46, 55, 69–71 Bathurst (NSW) 50 Bawadi Project (Dubai) 108 Baxter, Dr Kylie 136 Beech, Dr Mark 144
Bennett, Jeanette 15 Bill Express 65 Biosecurity Australia 55 Birds Australia 118 Blue Mountains Hotel School (BMHS) 159, 163 Blue Mountains (NSW) 144 Blue Souk 21 BMIHMS 159 Boeing 100 Bondi Beach (NSW) 143 Branson, Richard 102 Brookes, Bernie 107 Budde, Paul 112 Building Code of Australia 111 Bureau of Meteorology 49 Burj Al Arab 139, 140 Burj Dubai 15, 139 business and financial services in Australia 58–59, 104–105 in UAE 104–105 business culture in Australia 53–55, 78–79 business cards 81 dress standards 54, 81, 82, 131–132 gift giving 54–55, 80, 81 handshaking 80, 81 hospitality 80 oral and written commitments 56 seniority in age 80 time concepts 53 in UAE 78, 79–82
C
camel racing 147 Canberra (ACT) 22, 49 capital cities in Australia 49–51 capital gains tax (CGT) 57, 62 Carapiet, Michael 105 carbon trading system 49 Chelsea Football Club 37
Chevrolet 103 Chhabria, Manu 85 Chhabria, Vidya 84–85 Chinese commodity cycle 45, 47, 110 City of Arabia (Dubai) 108 CleanDomain 160 The Cleanevent Group 160, 164 climate 133–134 climate change 49 Coffey International Limited 92, 164 Collingwood Football Club 25, 147 Commercial Radio Australia 117 Commonwealth Bank 104 Commonwealth of Australia 18, 22 communications see transport and communications company tax 57 conflicts in Middle East 71 Consensus Economics 24 conservation see environment and conservation construction and engineering in northern emirates 108–109 in UAE 105–109 Convergence Capital Ltd 65, 164 Cook, James 17–18 corporate governance in Australia 60 Corporations Act 2001 57, 60 Council for Australian–Arab Relations (CAAR) 25, 136, 158 Court of First Instance 19 Creative City (Fujairah) 113 Cricket Australia 147 CSIRO (Commonwealth Scientific and Research Organisation) 49 currency 15 Customs Union 23
D
D1 123 Dana Property Development 32–33, 164
Dare to Lead program 149 Darley 146 Datamation 84 Davids Group 62, 165 de Boer, Kito 109 de Kock, Mike 30–31 Deakin University 135 demographics see geography and demographics Department of Agriculture, Fisheries and Forestry 55 Department of Environment, Water, Heritage and the Arts 111 Department of Foreign Affairs and Trade (DFAT) 23 Deserts Islands 155 development approvals in Australia 59 dietary requirements 54 directors’ reports 59 dirham (Dh) 15 Djarragun College (Cairns) 149 Dnata 77, 93 Douglas, Fred 15 DP World 17, 47, 76 drought 48, 49 du 111 Dubai 18–19, 20, 69, 74 airport 76–77 construction and engineering 107–108 economy 21 free trade zones 75 marine terminals 76 property development and management 110 tourism 99, 139–140 Dubai Aerospace Enterprise (DAE) 100 Dubai Auto Zone 103 Dubai Chamber of Commerce and Industry 21, 103 Dubai Desert Classic Golf Tournament 141, 145–146, 147 Dubai Duty Free 147 Dubai Financial Services Authority (DFSA) 27, 105
index
171
Dubai Flower Centre (DFC) 140 Dubai Healthcare City (DHCC) 137 Dubai International Film Festival 114 Dubai International Financial Centre (DIFC) 27, 65, 69, 105 Dubai International Racing Carnival 146 Dubai Internet City 69, 111 Dubai Islamic Bank 65 Dubai Knowledge Village 135, 136 Dubai Lands Department 28–29, 32 Dubai Media City 69, 113 Dubai Metro 108 Dubai Press Club 85 Dubai Racing Carnival 30 Dubai Racing Club 146 Dubai Shopping Festival 85, 140 Dubai Studio City 113 Dubai Summer Surprises 85, 140 Dubai Tennis Championships 147 Dubai University City 113 Dubai World 76, 107 Dubai World Central (DWC) 100–101 Dubai World Cup 141, 146 Dubailand 108 Dubailand Sports City 147 dugongs 118
E
EasyStreet 64 Economist Intelligence Unit 20, 48 economy Australia 15, 22–23, 47–49 UAE 15, 20–21 education 134–136 literacy 135 UAE students in Australia 16, 24, 135 Education Queensland International 136 Egypt 116 Elizabeth II, Queen 22 Els, Ernie 147 Emergent Capital 64 Emirates Airline 25, 46, 77, 93, 140, 147, 153, 165 Emirates Computers 113 Emirates Financial Towers 123 Emirates Integrated Telecommunications Company (EITC) 111
172
australia—uae
Emirates Telecommunications Corporation 78, 111 Emirates Towers 124 emiratision program 72 Employee Nomination Scheme 58 engineering see construction and engineering Engineers Australia 158 ENSHAA 122–123, 165 entertainment and the arts 148–149 Environment Agency 117–118 environment and conservation in Australia 59, 118–119 in UAE 117–119 Etihad Airways 34–37, 46, 61, 77, 165 Etihad Crystal Cargo 36 Etihad Guest 36–37 Etisalat 78, 111 exports agriculture to Middle East 40–41 to Asia 45 Australia–UAE 15, 23–24 Dubai 21 exporting to Australia 55 Sharjah 21
F
faith and religious beliefs in Australia 53–54, 131 in UAE 53–54, 131 falcon 118 Falcon City of Wonders (Dubai) 108 Fatima bint Mubarak, Shaikha 83 Federal Chamber of Automotive Industries 104 Federal Environmental Agency 117, 118 Federal Executive Council 22 Federal National Council 19, 83 Federation of Arab Emirates 18 Federer, Roger 140 FIFA 147, 155 financial services see business and financial services Florida Aerospace 65 Flowers and Plant Association 140 Focus [publisher] 95 Food and Agriculture Organisation (FAO) 25 Football Federation Australia 148 Foreign Acquisitions and Takeovers Act 1975
(FATA) 56 foreign investment in Australia 24–25, 45, 48 Foreign Investment Review Board (FIRB) 56 Foster, Norman 119, 125 Fraser Island 144 Free Trade Agreements Australia–GCC 15, 23–24 in place or under negotiation 45 free trade zones in Australia 52 in UAE 74–75 Free Zone Authority 75 fringe benefits tax (FBT) 57 Frost and Sullivan 116 Fujairah 18–19, 21, 72, 74, 77 Fujairah Media Free Zone 113 tourism 141, 144 Fujairah Media Incorporated (FMI) 113 Future Foods 15 Future Fuels Australia Pty Ltd 65 “The Future Fund” 47
G
GAA All-Ireland Hurling Championships 37 Galleries Direct 157, 166 General Information Authority 84 General Women’s Union (GWU) 83 geography and demographics Australia 49–50 UAE 71–74, 99 Global Competitiveness Report 59 Godolphin Gallery 31, 146 Gold Coast City Council 87 Gold Coast (Q’ld) 143 Goods and Services Tax (GST) 57 Government of Western Australia Department of Agriculture and Food 168 Government of Western Australia Department of Industry and Resources 168 Great Barrier Reef (Q’ld) 144 Green Mubazzarah 144 the Greens 22 Griffith Islamic Research Unit 135 GRM 16 guest workers in UAE 72, 73–74 Guggenheim Abu Dhabi Museum 141, 155
Gulf Air 77 Gulf Aircraft Maintenance Company 100 Gulf Cooperation Council (GCC) 15, 23, 137 Gulf of Oman 18
H
Al Habtoor Engineering Enterprises 88–89 Al Habtoor Leighton Group (HLG) 88–89, 121, 163 Al Hajeri, Saeed 105 halal meals and products 54 Hall, Cameron 157 Hamad bin Zayed Al Nahyan, Sheikh 16 Hamburg FC 147 Hamoud, Habib 113 Harcourt, Tim 15 Harib Bin Ghannam Al Hameli 101 Harlequins Rugby Football Club 37 Harmon, Butch 147 Harms, Andrea 149 Al Hashemi, Reem 83 health in Australia 46, 50, 138–139 occupational health and safety 58 in UAE 136–137 High Court of Australia 22 Higher Colleges of Technology 135 history European settlement of Australia 17–18 UAE 18–19 Hogan, James 34, 61 Holden 103 Hollywood 114–115 horseracing 30–31, 146–147 HSBC Holdings 65, 108 Human Development Index 22, 46, 137 Humayun Alam, Syed 102
I
Ibn Battuta Mall 107 IDC 113–114 IMF (International Monetary Fund) 24 immigration 50 incentives and taxation in Australia 57 Index Building 125 India 45
Indigenous Australians 17, 142, 149, 157 inflation 20, 48 information economy and the media in Australia 111–112 in UAE 111, 113 information technology services in Australia 114 in UAE 113–114 Ingham’s Woodlands Stud 146 Injazat 113 Institute for Management Development 55 intellectual property 60 Interest Withholding Tax (IWT) 57 internal migration 49–50 International Civil Aviation Organisation 102 International Cricket Council 147 International Graduate Insight Group 135 International Monetary Fund 65 International Property Services (IPS) 64 International Telecommunications Union 111 Internet 78, 111, 112 Invest Australia 45 investment prospectus 59 Iran 21, 71 Iraq 71 Ireland 37 Islam 18, 50, 131 Israel 81 Istithmar 76
J
Al Jaber, Dr Sultan 119 Japan 23 Jebel Ali 75, 76, 100–101 Jebel Hafit 144 Jetstar 102 judiciary, role of 55–56 Jumbo Electronics 85 Jumbo Group 84–85
K
Kakadu National Park 118–119, 144 Karachi Financial Towers 123 Kazal, Karl and Tony 63 Khalifa bin Zayed Al Nahyan, HH Sheikh 19
Khan, Mohsin 65 Knott, David 27, 105 KPMG 45 Kuwait 23 Kyoto Protocol 49, 119
L
labour market regulation in Australia 57–58 land tax 57 language 70, 81, 131, 151 Lebanon 71 Legends (Dubai) 108 Leighton International 88–89 Liberal Party of Australia 22 Linford, Peter 15–16 Living City 64 Lloyd, David 147 Lloyd’s List 76 Louvre Abu Dhabi 69, 141, 155 Lubna bint Khalid Al Qasimi, Sheikha 16, 84
M
McKinsey 109 Macquarie Bank 104–105 Madrid Protocol 60 Al Maktoum International Airport 100–101 Mall of Arabia (Dubai) 108 Mall of the Emirates 140 Manchester United 147 manufacturing see automotive and manufacturing Al Marri, Mona 85 Masdar City 119 Al Masood Automobiles 102 Max Bogl 101 Al Mazrouei, Khalifa 101 MBC 113 MDS UAE 113 media see information economy and the media Medicare 138 Melbourne Spring Racing Carnival 25, 147, 148 Melbourne (Vic) 50–51, 143 Metcash 64 Meydan (Dubai) 146 migration 50
index
173
Ministry of Environment and Water 117–118 Mionis, Robert 100 Mirvac Group Limited 87 Modelcraft 15 Mohammed Al Shamsi, HE Dr Saeed 149 Mohammed bin Khalifa Al Maktoum, HH Sheikh 16, 28–29, 30–31, 32–33 Mohammed bin Rashid Al Maktoum, HH Sheikh 19, 28–29, 31, 133, 146, 147 Mohammed bin Zayed Al Nahyan, HH Sheikh 16 Mohammed Khaleel 29, 30, 32–33 Monash University 135 movies and television in Australia 115–116 in UAE 114–115 MTV Arabia 115 Muhammad (life of prophet) 150–151 Multiplex 124–125, 166 Musandam Peninsula 21, 141 Myer 107
N
Nad Al Sheba Racecourse 146 Nakheel 76, 87, 107, 146 Nasa Group of Companies 16 Nasa Multiplex LLC 16, 125 Naser Abdullah Hussain Lootah 16 The National 113 National Australia Bank 104 National Australia Built Environment Rating System 111 National Party of Australia 22 natural gas reserves 20 New South Wales 110 Newland, Martin 113 Al Noori, Maryam 140 Norman, Greg 146
O
Oceanis 15 O’Donnell, Chris 87 OECD (Organisation for Economic Cooperation and Development) 45, 48 oil discovery 18, 141
174
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first exports 19 oil prices 109, 110 reserves 20 Olympic Games (1956 Melbourne) 145 Olympic Games (2000 Sydney) 145 Olympic Games (2016) 145 Oman 21, 23, 71 Omniyat Properties 125 Opus Building 125 Orange (NSW) 50 O’Sullivan, Edmund 113 Oxford Business Group 106
P
P&F World 76 P&O 17, 47, 76 Palandri Wine Group 65 Palazzo Versace Dubai 122–123 Palazzo Versace Gold Coast 17, 122 Palm Deira 107 Palm Jebel Ali 107 Palm Jumeirah 107 Pan Arab Research Centre (PARC) 116 Paris Convention 60 Paris Saint Germain 147 Patent Cooperation Treaty 60 Pay As You Go (PAYG) 58 payroll tax 57 Perth (WA) 38–41, 51 Player, Gary 156 political structure of Australia 22 of UAE 19–20 population see geography and demographics Port Rashid 76 PricewaterhouseCoopers 64, 166 property development and management in Australia 110–111 in UAE 109–110
Q
Qantas 102 Qatar 18, 23 Queensland 51–52 Qur’an 151
R
Al Raha 65 rainforests 118 Rajan, Barti 113–114 Ramadan 131 Ras al-Khaimah 19, 21, 72, 74, 77 construction and engineering 109 Ras Al Khor Wildlife Sanctuary 143 regional holding company 62 Regional Sponsored Migration Scheme 58 regulatory frameworks Australia 55–60 quarantine regulations 55 rule of law 55–56 UAE 70 religious beliefs see faith and religious beliefs Reserve Bank of Australia 47, 48 Restless Planet (Dubai) 108 Reuters 113 Rex Airlines 65, 102 Roberts, John C. 124 Roche, Matthew 15 Routledge, Stewart 16 Royal Institute of Chartered Surveyors (RICS) 158 Rudd, Prime Minister Kevin 22, 49, 119, 133
S
Saab BioPower 104 Saadiyat Island 65, 69, 141, 155, 156 Saeed Khalfan Al Ghaith, HE 26 Saleh, Abdullah 105 Saudi Arabia 23, 115, 116 Savage, David 88, 121 School of Audio Enginerring (SAE Institute) 135 Scuderia Ferrari 37 Shalhoub, Tony 115 Sharjah 18–19, 21, 72, 74, 77 construction and engineering 109 tourism 144 Sheikh Khalifa Medical City 137 Sheikh Mohammed Bin Khalifa Al Maktoum Investment Groups 28–32 Sheikh Zayed National Museum 155 Simpson, Dr Glen 25 Sir Bani Yas Island 141, 156 Snowdrome (Dubai) 108
Socceroos 148 Sony 113 South Korea 45 sport in Australia 147–148 horseracing 30–31, 146–147 in UAE 30–31, 141, 145–147 stamp duty 57 Storm UAE 64 Straits of Hormuz 76 Sultan bin Mohammed Al Qasimi, HH Dr Sheikh 84, 109 Sunland Group Limited 17 Sunshine Coast (Q’ld) 143 superannuation guarantee 58 Supreme Council of Rulers 19 Supreme Court (UAE) 19 Al Suwaidi, Noura Khalifa 83 The Swann Group 94, 166 Sydney Harbour Bridge 142 Sydney (NSW) 50–51
T
TAFE Global (NSW) 135 Tamweel 110 Tanvir Ahmed 103 Tariq Bin Faisal Al Qassimi, HE Sheikh 122 taxes in Australia 57, 58, 62, 138 tax law 57 in UAE 20, 75 TECOM 115 Tejari.com 84 Telecommunications Regulation Authority (TRA) 111 television see movies and television Thuraya 78 Toll Logistics (Asia) Limited 90–91, 167 Toowoomba (Q’ld) 50 Torres Strait Islanders 17, 142, 149, 157 tourism in Australia 141–145 in UAE 139–141, 143–144 UAE tourists to Australia 16 Tourism Development & Investment Company (TDIC) 155, 156, 167
Tourism Western Australia 168 Toyota 103, 104 Trade Practices Act 1974 60 trade unions 55 transfer pricing 62 transport and communications in Australia 52–53 maritime transport 52 postal services in UAE 78 road networks 53 street numbering and naming in UAE 78 in UAE 75–78 Treaty of Exclusive Relations (1892) 18 Tree Planting Week 117 TridonicAtco Australia Pty Ltd 126–127, 167 TRIPS Agreement 60 Trucial States 18–19
U
UAE Handbook 105 UAE (United Arab Emirates) Abu Dhabi see Abu Dhabi Ajman see Ajman Australian companies in 15–16 Australian nationals in 16 Dubai see Dubai Fujairah see Fujairah guidelines for entry 46, 55, 69–71 political structure 19–20 Ras al-Khaimah see Ras al-Khaimah Sharjah see Sharjah Uluru 142 Umm al-Qaiwain 18–19, 21, 72 unions 55 United Arab Emirates see UAE United Kingdom 18, 37 United Nations Human Development Index 22, 46, 137 United States 45, 48 The Universe (Dubai) 107 University of Adelaide 135 University of Melbourne 135, 136 University of Sharjah 135 University of Technology, Sydney 158, 167 University of Wollongong 16, 135
V
Victoria International School of Sharjah 136 Victoria, State of 110 Virgin Blue 51–52, 102
W
Warner Bros 114 wasta 82 water management 100, 111, 118 Water Resources Group 65 Western Australia 38–41, 51, 110 Western Australian Government 39, 40-41 Western Australian Trade Office 41, 168 Westpac 104 White Bay (Umm al-Qaiwain) 123 Wolgan Valley Resort & Spa 93 women in Australia 55 in UAE 72, 81, 82–84 Women As Global Leaders conference 83 Women in Leadership 136 Woods, Tiger 140 workforce guest-workers in UAE 72, 73–74 labour market regulation in Australia 57–58 World Bank 45 World Competitiveness Yearbook 24 World Cup 148, 155 The World (Dubai) 107 World Economic Forum 59 World Health Organization (WHO) 137, 138 World Heritage sites 144 World Trade Organization (WTO) 25
Y
Yemen 71
Z
Zahra Pictures 114 Zayed bin Sultan Al Nahyan, HH Sheikh 19, 117 Zayed International Prize for the Environment 117 Zurich Capital Markets 65
index
175