Page 132 - MOE ENGLISH PR REPORT - JUNE 2024

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.

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

https://www.khaleejtimes.com/uae/crime/uae-cracks-down-on-counterfeit-620-violations-
recorded-since-the-start-of-2023