Page 964 - MOE ENGLISH PR - MAY 2024

5/10/24, 9:17 AM UAE reiterates support for GCC efforts to enhance intra-regional trade and investment flows & establish legislative frameworks for …
states. The objective is to harness the growth enablers

of the private sector.

The meeting emphasized the significance of

establishing an investment committee that will focus on

the advancement of local and intra-regional

investments, attracting FDI and fostering partnerships

with regional economic blocs and organizations. In

addition to benefiting member states and their

economies, an investment committee will also create

opportunities for cooperation with GCC partners and

investment ecosystem stakeholders.

The Committee members reviewed the most recent

advancements in the Commercial Arbitration Center,

and assessed amendments to the commercial laws and

regulations in GCC member states that are seeking to

keep pace with technological advancements and

economic shifts, particularly in areas such as the

regulation of competition and consumer protection. The

Committee also highlighted the importance of

establishing a unified GCC legislation for commercial

franchising, which would effectively regulate the legal

relationship between franchisors and franchisees.

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