The CCC risk rating is impacted by the Sovereign Probability of Default (ability and willingness to honour financial obligations), political risks, and other mitigating or worsening factors.
Business environment in United Arab Emirates
The United Arab Emirates (UAE) is a key Middle Eastern market for many Canadian exporters across a range of sectors. The UAE is a very wealthy nation, with a high per capita income and sizable annual trade surplus. The country has a stable economy with a modern political system. Successful efforts at economic diversification have broadened the scope of opportunities across all sectors. Free trade zones, offering 100 per cent foreign ownership and zero taxes, are attracting foreign investors. Canada has a strong commercial trade relationship with the UAE and Canadians have made inroads in many sectors such as oil and gas, resources, power, infrastructure and environment and ICT. Opportunities that match Canadian capabilities in a variety of sectors continue to be present. EDC serves Canadian companies in the United Arab Emirates through our local representation in Dubai.