The Golden Era of Trade Essay Example

The trade operations during this era were massive. Due to lucrative trade routes, the Netherlands became a significant economic power during this period, which is known as the "golden era" for the country.

The process of hauling out and sailing was already flourishing because of the favorable positions close to the sea, and private entrepreneurs took more risks in their investments in Dutch traders, which shaped an intercontinental trade that started a successful world economy.

The Dutch carried out commercialized farming and produced more than they needed themselves and therefore sold their surplus. Their grain was intended for the European market, and Amsterdam functioned as a center for this. Amsterdam became a trading hub. The Dutch managed to continue their welfare by making their agricultural production more efficient. Therefore, special mills like Caron Mullins were developed to reduce the amount of labor that was needed for the production of agricultural products, so they saved money. The Fall of Antwerp and Sadame became the trading hubs of the world. The Dutch sailed with their ships to other continents to trade and to plunder in the Gulf region. There was the Dutch East India Company, which was founded because they merged several separate Dutch companies that were basically operating separately from each other and often fought against each other, so to make it more lucrative, they formed this company.

The Dutch established their first Arab trading post in Mocha but soon used other trans-shipment points, such as Aden, Al Hudaida, and Al Luhayya (all in Yemen), Muscat (Oman), Jeddah (Saudi Arabia), and on the African side of the Red Sea coast, Massawa (now in Eritrea), Sawakin, and Aydhab, in conjunction with the British trade fleet (both today in Sudan). After 150 years of dominance in the region, the Portuguese lost their important base in Ormuz (today's Bandar Abbas, Iran) to a combined force of Persian and British warships in 1622. In exchange for silk and pearls, the Dutch began vast trading operations in the Gulf region, trading spices, wool, textiles, sugar, silver, and iron. In the 17th century, they established commercial posts in Iran's Shiraz, Busher, and Kerman.

The Netherlands during the age of absolutism 

The Netherlands was a unique country during the age of absolutism. Further hostilities with both the British and the French in the mid-18th century saw Dutch commercial influence wane, and a steady increase in taxes on local trade relations in the Gulf led to worsening relationships with local authorities. Dutch merchants reduced their presence at their trade locations and relocated their business activities to the island of Kharg (now part of Iran), where they built a fort and established a trade route for indigenous pearls. The Dutch were ejected from Kharg in 1766 due to a conflict of interests with the local populace, putting an end to their actual involvement in the region. However, trade persisted for a few decades, primarily through Muscat. The VOC took part in the majority of the trade operations in the Gulf region.

On a ministerial occasion, Khalid Ali Al Bustani, Executive Director of International Finance Relations Sector at the UAE Ministry of Finance, said, "The Netherlands has a highly favorable business environment for long-term economic growth due to its transparency, economic diversity, and status as a leading hub for global capital." Hundreds of Dutch companies operate in the UAE, and thousands of Dutch nationals live and work there.

Dutch traders built commercial posts on the Arabian Peninsula's Red Sea coast to facilitate trade between India, East Asia, and Europe. The "Golden Age" of Dutch trade in the Gulf region lasted from 1654 to 1753. To construct a new trade station, the Dutch retreated to Kharg Island.

• The Dutch East India Company was formed in 1602.
• 1602–22 Dutch traders built commercial posts on the Arabian Peninsula's Red Sea coast to facilitate burgeoning trade between India, East Asia, and Europe.
• 1622: The Gulf's first commercial hub is formed (Bandar Abbas).
• 1622-52 With key commercial posts in today's Iran, Iraq, the United Arab Emirates, and Oman, Dutch trade expands.
• The "Golden Age" of Dutch trade in the Gulf region lasted from 1654 to 1753.
• 1753 There is a conflict between British and French interests. Because of the high taxation on commercial commodities, relations with the local government are deteriorating. To construct a new trade station, the Dutch retreated to Kharg Island.
• The Dutch were evacuated from Kharg Island in 1766. The Gulf presence is coming to an end.