The Ministry of Economy in the UAE has carried out a substantial number of inspection tours in local markets to control cases of commercial fraud, imitation, and counterfeiting of trademarks. With a total of 4,444 inspections, these efforts have resulted in the arrest of 620 violations. The Ministry is committed to continuously developing economic policies and legislation to advance the consumer protection system in the country, ensuring consumer rights and maintaining a stable consumer environment with vibrant markets following international best practices.
In line with this commitment, the Ministry aims to foster a competitive environment for business establishment, enhance the flexibility of economic and commercial activities, and support the UAE’s position as a leading global center for trade, business, and innovation. The Federal Decree Law No. (42) of 2023 on combating commercial fraud plays a crucial role in providing impetus for an integrated legislative system to protect consumer rights and combat commercial fraud effectively, aligned with global best practices.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, highlighted the significance of the new law in enhancing the state’s efforts to shift towards a new economic model based on fair competition and innovation. He emphasized the development of the regulatory and legislative environment for the economic sector to enhance business governance, in line with the strategic objectives of the Ministry. The law aims to enhance competitiveness, stimulate innovation, support intellectual property protection, and be consistent with federal legislation related to consumer protection, trademarks, copyright, related rights, and commercial agencies.
Key outcomes of the law include providing a safe purchasing environment by combating counterfeit and corrupt goods, organizing procedures to withdraw such products from markets and stores, and establishing the “Supreme Committee for Combating Commercial Fraud.” This committee will be responsible for enforcing anti-commercial fraud policies across state markets in coordination between federal and local authorities. The law represents a proactive and flexible approach that anticipates future trends in combating commercial fraud, ensuring fair competition and enhancing the UAE’s global competitiveness indicators and reports.
The Ministry’s initiative to control cases of commercial fraud, imitation, and counterfeiting of trademarks is crucial for ensuring consumer protection and maintaining a fair business environment in the UAE. By conducting a significant number of inspection tours in local markets, the Ministry is taking proactive measures to combat fraudulent activities and protect consumer rights. With the implementation of Federal Decree Law No. (42) of 2023 on combating commercial fraud, the UAE is making strides toward strengthening its legislative framework for consumer protection and fair competition, aligning with international standards.
To stay up to date with the latest news and developments in the UAE’s efforts to combat commercial fraud and protect consumer rights, individuals can follow KT on WhatsApp Channels. The Ministry’s dedication to continuously developing economic policies and legislation underscores its commitment to advancing the consumer protection system in the country. By fostering a competitive business environment, enhancing economic activities, and supporting innovation, the UAE aims to solidify its position as a global hub for trade and business, prioritizing consumer rights and market integrity.
