EU warns UAE over fraudulent exports

The EU has threatened to withdraw special trade privileges from the UAE unless the country reduces the number of goods sent to Europe with fraudulent paperwork.

As an emerging market, the UAE is a beneficiary of tariff-free imports under the EU’s General System of Preferences (GSP). That offers Emirati businesses an easier path into the European markets, as exported goods can be exempt from tariffs for up to 60 per cent of the items’ value.

But EU officials say the UAE and Malaysia have been identified as significant sources of improperly exported goods, raising concerns about organised crime networks, revenue losses and the country’s reputation as a reliable trading partner.