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Product Adaptation Essay

2408 words - 10 pages

United Arab Emirates occupies a total area of about 83,600 square kilometers (32,400 square miles), along the south-eastern tip of the Arabian Peninsula between 22°50 and 26°N and between 51° and 56°25 E. The UAE has 1 318 km of continental coastline along the Persian Gulf. The inflation rate, exchange rate and currency stability are important factors to consider in International trade, economically, the UAE has a 4% of GDP growth in 2012 with a lower inflation rate of 1.1%, In terms of days and cost of import procedure (United Arab Emirate). The Urbanization rate of the region is 84% (UAE) which would contribute to the product awareness in necessary part of the region since the ...view middle of the document...

There is no Nontariff Barriers on most of imported product, especially on seafood providing they comply with Muslim laws and traditions.
Clearwater’s headquarter office is in Bedford, Nova Scotia. Its fleet harvests for all Clearwater's seafood product in the North Atlantic region, and 7 land-based holding facilities which integral links vertically integrated structure are the locations for primary processing (Processing Facilities). The organization of the company is well integrated; the headquarter has functions of HR, IT and finance are integrated under the management of VP Finance and CFO (Chief Financial Officer), and the COO (Chief Operating Officer) manages purchasing, quality control, logistics and monitors operations of 7 land-based holding processing facilities also the COO will be in charge of the exportation to UAE. Each factory’s manager should report to COO and its own departments of HR, accounting, QA, and logistics are guided by the corresponding departments (Clearwater Fine Foods Inc).
Clearwater revenue would increase if UAE is considered for the export business based on the fact that there is increase in demand of seafood in UAE especially live crabs, which is sold almost triple the price in UAE compare to Canada.
Clearwater has existing business including partnership in Europe, Asia, North America (Clearwater Seafood Incorporated); the company is planning to expand to UAE to increase company’s revenue and make the reputable seafood company known in this part of the world.
The UAE is a niche market for Canadian lobster, in 2011; the total export value of lobsters (live or frozen) from Canada to the UAE reached $2.3 million, an increase of 657% and 77% from 2000 and 2008 respectively. According to a recent Statistics Canada report, in 2011 Canada exported 91,231kg of lobster (live and frozen) to the UAE. It can be seen that there is a huge potential in Canadian lobster market in the UAE (The National). Therefore, it can be calculated that the average unit price of lobster exported to the UAE is $25/Kg or $11.3/lb. This price point for Canadian lobster is justified in the UAE. Its absolute price in the UAE is almost at the same level in Canada’s retail market while the former is more favorable if measured in PPP considering the Disposable Income per Household of Canada is only 47.6% of that of the UAE in 2010 (World Consumer Income).
Canada began exporting scallops to the United Arab Emirates in 2004, when there were only CAD $84,973 of scallops i.e. live and frozen exported. However in the next four years, the trade of scallops saw a tremendous growth and the total export of scallops from Canada to the UAE. From 1994 to 2009, the export value of Canadian scallop, all supplies and nations of destination combined, has varied between $14.65 and $21.39 per kg (average $16.83). Also, from 2000 to 2009 the annual landings averaged around 7,000 tonnes (meat weight, not including shells) in the...

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