Page 709 - MOE ENGLISH PR REPORT - JULY 2024

7/2/24, 4:39 PM Ministry of Economy: New law on combating commercial fraud bolsters UAE's legislation and protects consumers in line with best gl…
Ministry of Economy: New law on combating

commercial fraud bolsters UAE's legislation and

protects consumers in line with best global

standards

The Law enhances the efficiency of the economic sector and the competitiveness of trademark owners,
while also establishing integrated mechanisms to combat counterfeit, adulterated, and corrupt products.

>> Abdullah Al Saleh: The law marks a significant milestone in the country's efforts to develop proactive
legislation for economic sectors and enhance governance within business environment.

Abu Dhabi, 1 July 2024: The Ministry of Economy (MoEc) has clarified that Federal Decree-Law No. (42) of 2023
on Combating Commercial Fraud contributes to the creation of an integrated legislation that will significantly
enhance consumer rights protection and combat commercial fraud in the UAE, aligning with the best global

standards. This law introduces comprehensive mechanisms and regulations to prevent 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.

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