The United Arab Emirates’ march towards globalization has created the need for professionally trained people to lead and manage the legal aspects of a global economy. The UAE is a contracting party to General Agreement on Tariffs and Trade (GATT) and one of the founding Members of the World Trade Organization (WTO). The Commercial Agency Law (revised in June 2010) is based on the principle of free and open economy that encourages local and international investment from people of all nationalities. To foster international trading ties and to attract MNCs & TNCs to establish their affiliates in the country, the UAE has signed several free trade agreements (FTAs) with the EU, the U.S., Australia, New Zealand and with all major economies of the world. Several new joint stock companies (both public & private) have been established in the UAE. The nation has a legal infrastructure to participate in the world economy.