Two legal firms have agreed to collaborate to provide end-to-end support to New Zealand businesses wanting to take advantage of the business opportunities presented by Expo 2020 Dubai.
UAE-based, Banks Legal, and New Zealand based Hudson Gavin Martin today announced a formal collaboration following the confirmation of New Zealand’s participation at Dubai’s Expo 2020.
As a combined resource for businesses present in, or interested in entering the UAE and wider MENA markets, Edwin Lim, partner at Hudson Gavin Martin, Nathan Banks, managing partner and Andrew Morris, partner at Banks Legal are offering their extensive experience advising businesses on how to operate in the UAE and wider MENA markets.
The New Zealand Government has recently announced its commitment of over NZ$53m (Dh141m) towards its participation at Expo 2020 Dubai to further promote trade in the region. The Government’s commitment reinforces the significant growth in trade between the two countries and the wider MENA markets, over the past decade. New Zealand is currently exporting approximately NZ$750m (Dh1997m) in goods and services to the UAE, now its 12th largest trading partner.
The announcement comes as the New Zealand Government moves closer to concluding a Free Trade Agreement (FTA) with the Gulf Cooperation Council, of which the UAE is a member country. The FTA is anticipated to further improve trade ties and is estimated to deliver tariff savings of NZ$90m (Dh240m) to New Zealand exporters.
The legal firm collaboration further supports the existing New Zealand Government and private sector focus on increasing trade across the Middle East region, with companies able to connect with legal firms in both countries with an understanding of the UAE business model and legal environment, and can help them to launch ‘in-market’.
“Over the course of a decade of consistent growth in trade activity and positive relations between New Zealand and the UAE, we have observed an increasing demand for New Zealand’s innovative approach and know how across a broad range of industry sectors in the UAE and the wider region, says Nathan Banks. "Expo 2020 presents New Zealand with a prime opportunity to further enhance its international trade profile, showcase its breadth of capabilities across key sectors and to facilitate the export of New Zealand goods and services into Dubai and key emerging markets throughout the region.”
Andrew Morris says “Having assisted New Zealand companies in establishing and conducting business in the UAE for the past ten years, the importance of understanding the legal and regulatory landscape in the region at an early stage in the feasibility study cannot be over-emphasised.”
Edwin Lim agrees. “Expo 2020 Dubai is a fantastic opportunity for New Zealand, and New Zealand businesses. The world wants and needs the innovations that keep coming from New Zealand and the market opportunities for New Zealand businesses in the UAE are real. Getting started in any business is not straightforward, particularly when you are outside the target market.”