Page 135 - MOE ENGLISH PR REPORT - JUNE 2024

7/1/24, 4:57 PM UAE Cracks Down On Counterfeit: 620 Violations Recorded Since The Start Of 2023
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.

https://menafn.com/1108390935/UAE-Cracks-Down-On-Counterfeit-620-Violations-Recorded-Since-The-Start-Of-2023 2/2