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Setting up any business in the UAE requires a certification from the Chamber of Commerce of the emirate where one is based. However, the services offered by the Chambers of Commerce are numerous and extend far beyond simply issuing business certifications.
Providing specialized legal services for companies operating within the country, the Chambers of Commerce facilitate the resolution of legal disputes either through the provision of legal information, legal training or through direct mediation. They regularly arrange seminars and workshops to spread awareness on a range of topics to better prepare businesses for any legal problems that they may encounter. In the event that advice and preparation are not enough, they offer mediation services to help end trade disputes amicably and keep business relationships intact.
Another invaluable service that the Chambers of Commerce offer businesses is access to research and studies like trade reports, market reports and price indices to keep the business community updated with the latest economic development, regulations, business opportunities and relevant business contacts through well-documented materials.
The different Chambers of Commerce also provide companies with a credit rating service to assist in risk management. This is especially useful for startups that do not have a long list of trusted trade contacts.
• Each emirate has its own Chamber of Commerce
• It provides mediation in trade disputes if required
• It has a wealth of reports/studies for firms to use
Source: Nicholas Baker, Special to Classifieds
The writer is a freelancer