Page 416 - MOE ENGLISH PR REPORT - JUNE 2024

6/24/24, 2:26 PM Economic Integration Committee reviews progress of National Registry, discusses UAE’s endeavours in enhancing trademark prote…
During the meeting, Bin Touq emphasized the significant indicators of economic growth
achieved by the UAE under the vision and guidance of the wise leadership in 2023. These

accomplishments include the GDP of the UAE at constant prices, which has grown by 3.6

per cent from 2022 to AED 1.68 trillion. Furthermore, the non-oil GDP at constant prices
reached AED 1.25 trillion, experiencing a growth rate of 6.2 per cent in comparison to

2022. These figures solidify the UAE’s position as the fifth-largest economy globally in
terms of real GDP growth index. Additionally, the UAE has been ranked the first in the

region and the 18th globally in the World Economic Forum's Travel and Tourism

Development Index (TTDI) 2024, climbing seven places from its 25th global ranking in
2019.

Last week, the UAE signed an Economic Partnership Agreement with South Korea,
marking the beginning of a new era of economic growth and promoting positive

collaboration across various sectors such as trade, investment, and economy. This

agreement aims to foster constructive cooperation with one of the world’s strongest
economies.

The Committee has reviewed the progress made in the different stages of development of

the National Economic registry, utilising the latest technological solutions and artificial
intelligence. The registry consists of two phases: the first links data from local licenses

issued by UAE emirates to companies and institutions, and the second links data from

licenses issued by free zones to companies and institutions, as well as data of all kinds of
licenses from all registration authorities in the UAE and free zones. Once the development

process of the registry is finished, an integrated database of companies registered in the
country will be provided in line with the best practices and legislations, developing sectoral

economic policies based on comprehensive, precise, and continuous data.

The Committee further reviewed the UAE’s efforts aimed at fortifying the trademark
registration and protection system, taking into consideration the legislations implemented

by the country in alignment with the best standards. These efforts play a pivotal role in
enhancing the UAE's attractiveness to trademark-related investments and advancing the

growth of its products in the Emirati markets, ultimately enhancing the reputation of the

national economy. Notably, the total number of registered trademarks, owned by both local
and international companies, has reached an impressive figure of 216,937 trademarks.

-Ends-

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