The UAE is one of the most important trading partners for many countries. The National In-Country Value (ICV) certification program in UAE provides a level playing field for all companies that trade with or invest in this country by ensuring fair competition among participants and helping reduce risk associated with doing business in foreign markets. Exporters and investors may consider ICV to ensure compliance with UAE laws, regulations and procedures related to the country’s national treatment obligation under its WTO accession agreement regarding trade in goods, services or investment.
In order for a good to be eligible for an In-County Value (ICV) certification from a foreign market it must meet all requirements specified by the foreign trade regulations. Therefore , traders should make sure whether a product qualifies for such special rules prior applying for an In-Country value certification. To obtain a National In-Country value Certification exporters should follow the below steps:
Before applying for certification, the exporters should check whether their goods qualify for such special rules. After that , they need to compile a list of material and labor costs used in production with corresponding amounts per market economy unit(MEU) . Expenses which are not included in this calculation will be excluded from it. The next step is to prepare an analysis comparing market values against your foreign sales prices. This can help you determine whether or not your company’s prices are at or above those of other producers located inside UAE. Please note only companies whose products follow ICV criteria may apply for certification under National In-Country Value program. Once everything has been prepared , Exporters must send the information to the ICV certification body. The agency will then provide a list of documents which must be presented at their site.
After submitting all necessary data, you can expect that National In-Country Value certification should arrive within 30 days after submission. Once it is been granted, exporters do not have to apply for an ICV certificate from UAE authorities as long as they can present official document proving compliance with applicable legislation and regulations in this country. Furthermore, if your company is exporting goods or services covered by another foreign trade agreement such as NAFTA, you may also qualify for exemption from obtaining a separate national value certificate.