UAE’s Ministry of Economy carried out 4,444 inspection tours in local markets to control cases of commercial fraud, imitation and counterfeiting of trademarks only, from the beginning of 2023 until the first half of this year, and resulted in the arrest of 620 violations.
The Ministry affirmed in a statement on Sunday to continuously develop economic policies and legislation aimed at advancing the consumer protection system in the country. The authorities aim to guarantee consumer rights and ensure a stable consumer environment with vibrant markets, adhering to the best international practices.
This initiative will foster a competitive climate for business establishment, enhance the flexibility of economic and commercial activities, and support the consolidation of the UAE’s position as a leading global center for trade, business, and innovation.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Federal Decree Law No. (42) of 2023 on combating commercial fraud provides a new impetus for an integrated legislative system to protect consumer rights and tackle commercial fraud in the country, in line with international best practices.
The law establishes mechanisms and controls to prevent the trade of counterfeit, adulterated, and corrupt products, and to combat the counterfeiting of original goods and all forms of commercial fraud. This ensures the foundation of fair competition in the country and enhances its leadership in global competitiveness indicators and reports.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, stressed that this law represents a new milestone in enhancing the state’s efforts to shift towards a new economic model based on fair competition and innovation, developing the regulatory and legislative environment for the economic sector, and enhancing the business environment and its governance, in line with the strategic objectives of the Ministry of Economy to develop the regulatory and legislative environment for the economic sector.
He said: “This law, which replaced the previous legislation to combat commercial fraud, comes to enhance the competitiveness of the business environment for companies and trademark owners in the country, stimulate innovation in business, support the protection of intellectual property, and at the same time be consistent with federal legislation for “consumer protection” and “trademarks.” “And “copyright” and “related rights” and “commercial agencies”, noting that its materials were developed with a proactive and flexible approach that anticipates future trends.
The most prominent outcomes of the law included providing a suitable and safe environment when purchasing by combating counterfeit, counterfeit, and corrupt goods, organizing procedures for withdrawing counterfeit, counterfeit, or corrupt goods from markets and stores and refunding their value, and establishing the “Supreme Committee for Combating Commercial Fraud,” which will be responsible for enforcing anti-commercial fraud policies in all areas. State markets in coordination between the relevant federal and local authorities.