Free zones and trade
Due to its location, Dubai was traditionally a convenient place for business to bridge the gap between East and West and it continued to be an important trade route in the 1970s and 1980s.
Dubai has a free trade in gold and until the 1990s was used as a base for smuggling gold ingots into India, where the import of gold was restricted.
The Jebel Ali port, located within the Jebel Ali Free Zone, contains the largest man-made harbour in the world and has the eighth highest volume of container traffic in the world.
Because of the success of the Jebel Ali experiment, Dubai has established industry-specific free zones throughout the city. Dubai Internet City, combined with Dubai Media City as part of TECOM (Dubai Technology Electronic Commerce and Media Free Zone Authority) is one example and it contains IT firms such as Oracle, Microsoft and IBM, and media organisations such as CNN and Reuters.
Related posts:
- A brief history of Dubai’s economy from the Gulf War to The Islands
- A brief history of Dubai’s economy up to 1979
- Dubai and the UAE
- The 1990s to today
- Free luxury homes in Dubai by August (possibly)
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