Page 704 - MOE ENGLISH PR REPORT - JULY 2024

7/2/24, 4:38 PM Ministry of Economy: New law on combating commercial fraud bolsters UAE’s legislation
the trade of counterfeit, adulterated, and corrupt products and to combat counterfeiting activities,
ensuring fair competition and bolstering the UAE’s global competitiveness.

H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, highlighted that this law
marks a significant milestone in the UAE's transition towards an economic model based on fair
competition and innovation. “The primary objective of this law is to enhance the regulatory and

legislative landscape for the economic sector, reinforcing the business environment and governance in
line with the ministry’s strategic objectives,” H.E. said.

H.E. said: “The introduction of this new law aims to enhance the competitiveness of the business
environment for both companies and trademark owners in the country, replacing the previous law on

combating commercial fraud. Additionally, it seeks to foster innovation in businesses and provide
support for the protection of intellectual property. The law aligns with federal laws on ‘Consumer
Protection’, ‘Trademarks’, ‘Copyright and Neighbouring Rights’, and ‘Commercial Agencies’. Its
provisions have been developed with a forward-thinking and adaptable approach that takes future
developments into account.”

“In the past stage, the Ministry of Economy has collaborated with partners of federal and local
government entities, as well as the private sector, to enhance law concerning commercial fraud. This
effort has been instrumental in creating a competitive environment for the establishment of businesses,
increasing flexibility in economic and trade activities, and strengthening the UAE's status as a leading

global hub for commerce, business, and innovation.” H.E added.

The Ministry has emphasized the law’s crucial role in fostering a competitive trade and business
environment. It will drive the growth and improvement of the domestic trade system and enhance the
retail sector. The law will promote sound commercial practices and effectively combat the sale of

counterfeit, adulterated, and corrupt products. This, in turn, will attract major brands and positively
impact their economic performance. Additionally, it will encourage research, development, and
innovation, benefiting consumers and the UAE’s overall economy.

The MoEc highlighted the significant outputs of the new law, which encompassed:

Creating a conducive and secure purchasing environment for purchases by effectively combating

counterfeit, fraudulent, and corrupt goods. The law applies to all types of commercial deceit across the
country’s markets, including free zones.

Violations of the law result in the imposition of administrative penalties designed to encourage greater
compliance among businesses by deterring them from selling counterfeit, adulterated or corrupt
products within the country.

Strengthening collaboration between the local and federal authorities and empowering local authorities

to address counterfeit and adulterated products, thereby promoting investments and business activities
in the country.

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