Page 420 - 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…
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.

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