Page 419 - MOE ENGLISH PR REPORT - JUNE 2024

6/24/24, 2:27 PM Economic Integration Committee reviews progress of National Registry, discusses UAE's endeavours in enhancing trademark prote…

Economic Integration Committee reviews progress of

National Registry, discusses UAE's endeavours in enhancing
trademark protection

Bin Touq: The UAE has made significant progress in creating a favourable economic legislative environment. The
Committee plays a significant role in bolstering the UAE's vision to shift towards a new economic model.
Abu Dhabi, 4 June 2024: The Economic Integration Committee held its third meeting of 2024 under the chairmanship of
H.E. Abdulla bin Touq Al Marri, Minister of Economy, and with the presence and membership of H.E. Dr Thani bin Ahmed Al
Zeyoudi, Minister of State for Foreign Trade. The meeting was attended by representatives of local economic development
departments from all emirates.
The Committee reviewed the progress on the implementation of its previous meeting's agenda in March, discussing several
important topics. One key area of focus was the significance of bolstering national efforts to enhance trademark registration
in the UAE in line with global best practices.
H.E. Abdulla bin Touq, Minister of Economy, said: “In accordance with the directives of our wise leadership, the UAE has
taken significant strides towards fostering an exemplary legislative and economic framework, adhering to the highest global
standards. This advancement is evident in the implementation and refinement of diverse policies and regulations across
vital economic sectors, particularly those pertaining to emerging sectors like technology, innovation, intellectual property,
and trademarks. Notably, the UAE has been named as the premier global destination for initiating and conducting new
economic ventures, according to the 2024 Global Entrepreneurship Monitor (GEM) report. This recognition resonates with
the objectives outlined in the 'We the UAE 2031' vision, which seeks to position the UAE as a compelling and influential
economic hub within the next decade.”

Bin Touq underlined how important it is for the Economic Integration Committee and local economic development
departments to support national efforts to improve and update competitive and flexible economic laws and policies. This is
playing a vital role in supporting the UAE’s vision of transitioning to a knowledge-based and innovative new economic
model. Additionally, it will contribute to attracting foreign direct investments and instilling confidence in investors,
businessmen, and capital owners within the national economy.

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
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