INTERNATIONAL BUSINESS

Assignment Topic- Determine the following information with the source of WTO (World Trade
Organization).

a) Contribution of UAE in international market with respect to goods and services

b) The top ten exporters and importers in world merchandise trade

c) The top ten exporters and importers of commercial services

d) Fastest growing traders

With the above information analyze the countries (CSF) critical success factors for the same.

Write an essay on the above details for around 6 pages and attach the statistical information as
reference.

Deadline for the submission: 18TH Feb ’2010

 What is WTO
The World Trade Organization (WTO) is the only global international organization dealing with
the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed
by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help
producers of goods and services, exporters, and importers conduct their business. It is located in
Geneva Switzerland established on 01 January 1995. It was created by Uruguay round
negotiations. Almost every country is its member; the statistics shows that as on 23 July 2008
they have reached 153 country members.

Functions:-

1. Administering WTO trade agreements.

2. Forum for trade negotiations.

3. Handling trade disputes.

4. Monitoring national trade policies,

5. Technical assistance and training for developing countries.

6. Cooperation with other international organization.

Contribution of UAE in international market with respect to goods and

services

Since independence, the UAE has maintained an open, free market system with close links to the
international economy. Historically the UAE's prime industries were pearling and fishing. Since
the discovery of oil in the 1960s, the federation's closest trading partners have been industrialized
nations in Europe and Asia, primarily France, Germany, Great Britain, Italy, Japan, India, and
South Korea. The UAE exchanged crude oil for machinery, cars, transportation equipment, and
food. Japan is critical since it usually accounts for a third of UAE petroleum exports: the EIA
estimated that 80 percent of the UAE's crude oil exports in 1999 went to Japan and other East
Asian countries. The UAE's modern infrastructure and port facilities also have allowed it to serve
as an important re-export and transportation hub, particularly for Iran through Dubai.

Generally the health of the UAE's economy has depended on the price of oil and the economic
vitality of its leading trading partners. At the same time, the federation's economy also has been
impacted adversely by the politics of the Arabian/Persian Gulf region. Because of the UAE's
perceived support for Iraq in the Iran-Iraq war, Iran attacked UAE oil tankers in the
Arabian/Persian Gulf and compelled the UAE government to seek the protection of the U.S.
Navy through a reflagging operation (UAE ships hoisted the U.S. flag and carried U.S.
servicemen). The UAE and Iran also continue to dispute ownership over 3 islands in the
Arabian/Persian Gulf: Abu Musa and the Greater and Lesser Tunbs. During the Gulf War, the
UAE sought a close relationship with the United States as a way to protect the federation's
economic assets from Iraqi threats. The UAE also benefited from the relocation of a number of
businesses from Kuwait to the federation, especially to Dubai. Still, it is important to remember
that the UAE's dependence on desalination plants for power and water ensures that the state's
economy is especially vulnerable because economies of scale dictate that desalination plants
should be large and located on the coast.

Since the Gulf War and the collapse of the Soviet Union, the UAE has faced new competitors
and steadily increased its trade with China, the United States, and the former Soviet republics.
Throughout the first two-thirds of the 1990s, large numbers of Russians traveled to the UAE and
purchased products for sale at home, often using small transport planes or traveling through the
emi-rate of Sharjah. U.S. firms also have made steady inroads into the UAE, helping the United
States overtake Japan in 1996 as the leading exporter to the federation. U.S. exports to the UAE
increased by 14.5 percent alone in 1999. Finally, erstwhile GCC-ally Saudi Arabia fought hard—
but ultimately failed—to steal the UAE's share of the Japanese petroleum market throughout the
late 1990s.
 Top 10 exporters and importers in the world Trade Merchandisers

Exporters
In billions

Rank in 2000 Exporters Value Percent

1 United States 781 12.3
2 Germany 552 8.7
3 Japan 479 7.5
4 France 298 4.7
5 United Kingdom 284 4.5
6 Canada 277 4.3
7 China 249 3.9
8 Italy 238 3.7
9 Netherlands 213 3.3
10 Hong Kong 202 3.2

Importers
In billions

Rank in 2000 Importers Value Percent

1 United States 1,258 18.9
2 Germany 503 7.5
3 Japan 380 5.7
4 United Kingdom 337 5.1
5 France 305 4.6
6 Canada 245 3.7
7 Italy 236 3.5
8 China 225 3.4
9 Hong Kong 214 3.2
10 Netherlands 198 3.0

Top 10 exporters and importers in the World Commercial Service

Exporters

Value Share Annual percentage change

2008 2000 2008 2000-08 2006 2007 2008

United States 295.6 19.6 15.3 11 18 18 7

Japan 88.8 6.0 4.6 11 16 10 17
India 79.7 ... 4.1 ... 40 24 18
China 67.2 1.6 3.5 27 25 46 27
Switzerland 54.3 2.8 2.8 15 13 23 15
Hong Kong, China 48.7 3.3 2.5 11 17 17 7
Singapore 43.5 1.7 2.2 18 22 27 1
Canada 37.6 3.2 1.9 8 9 10 2
Russian Federation 23.7 0.4 1.2 32 35 34 34
Korea, Republic of 21.5 1.4 1.1 11 20 31 -3
Taipei, Chinese 21.3 1.8 1.1 7 19 9 12
Norway 19.3 0.9 1.0 16 34 27 13
Brazil 17.6 0.9 0.9 15 30 33 30
Israel 14.8 1.3 0.8 7 17 6 10

Importers
Value Share Annual percentage change

2008 2000 2008 2000-08 2006 2007 2008

China 71.5 2.0 4.5 25 26 35 27
Canada 39.0 3.6 2.4 8 8 10 1
Korea, Republic of 37.5 2.4 2.4 12 16 19 21
Russian Federation 36.7 0.8 2.3 28 23 39 40
Singapore 34.9 2.0 2.2 14 21 12 5
India 32.6 ... 2.0 ... 32 20 3
Brazil 23.0 1.2 1.4 15 18 21 28
Saudi Arabia a 19.5 ... 1.2 ... ... ... ...
Thailand 18.1 1.0 1.1 15 38 24 22
Switzerland 17.5 0.6 1.1 21 -1 24 10
Hong Kong, China 15.1 1.0 0.9 13 12 20 12
Australia 14.5 1.0 0.9 12 9 32 28