The UAE Ministry of Economy (MoE) and the Dubai Department of Economic Development have signed on Thursday a memorandum of understanding (MoU) requiring their cooperation in trade protection and the planning, development, and unification of procedures related to trade control. The MoU is intended to enhance commercial market regulation and create a competitive environment that both protects society and develops the national economy. The memorandum was signed at the Ministry's Dubai office by Eng. Mohammed Ahmed Bin Abdulaziz Alshihhi, undersecretary of the MoE; and Ali Ibrahim Mohammed, deputy director general for Executive Affairs, on behalf of Mohammed Bin Ali Al- Abbar, director general of the Dubai Department of Economic Development (DED). The ceremony was attended by Humaid Bin Butti Al-Muhairi, assistant undersecretary for Companies and Control Affairs; Abdullah Ahmed Al-Hussein, director of the Control Department; and other key officials. Alshihhi said the MoU is an important step in enhancing cooperation between the MoE and the Dubai Department of Economic Development. “The importance of this MoU lies in its regulation, unification, and development of procedures governing the control of economic activities in Dubai and the establishments engaged in these activities. This agreement establishes an institutional framework consistent with UAE's international obligations and Dubai's own direction in developing its investment environment and the necessary laws and regulations,” he added. The undersecretary further said the memorandum represents a general framework for cooperative trade protection between the two signatories, pointing out that both agencies are eager to coordinate on the technical, legal, procedural, and training aspects involved in trade protection. He said the ministry, through the signing of such memorandums, aims to implement trade control mechanisms in the UAE and create a competitive environment for the protection of society and the development of the national economy. He added that the MoE implements and monitors several laws on trade control, including Federal Law No. (4) of 1979 on the suppression of fraud and deception in business transactions; Federal Law No. (18) of 1981 on organizing commercial agencies; Federal Law No. (37) of 1992 on trademarks; Federal Law No. (9) of 1993 on the trade of precious stones and metals; Federal Law No. (7) of 2002 on copyright and associated rights; Federal Law No. (17) of 2002 on the protection and organization of industrial property and patents; and Federal Law No. (17) of 2004 on trade concealment. The MoE official emphasized that the signing parties will have to focus on proper preparation to achieve the objectives of the MoU. This would require the exchange of pertinent data, documents, studies, and publications; and the co-development of an easily accessible and maintainable unified database for these resources. The signatories will also have to create trade protection rules and guidelines in accordance with an organized institutional framework to ensure clear and specific control procedures that will build confidence between the ministry, the department, and economic establishments in Dubai. Alshihhi also pointed out that under the terms of the MoU, his ministry and the Dubai Department of Economic Development will adopt sophisticated mechanisms for the implementation of public policies that support trade protection, including the monitoring of market activities. The MoU also requires the department to manage inspection processes following prescribed legal parameters in coordination with the ministry. The agreement also provides for the implementation and monitoring of laws, regulations, and decisions concerning the protection of trade, and the use of appropriate legal and administrative procedures. The undersecretary said the consumer protection law was created to protect consumers from fraud and unjustified price hikes, pointing out that the MoE performs this role in accordance with its capacity and responsibility to protect consumers from negative domestic market practices. Ibrahim Mohammed said the two parties share the same vision of serving the country's economy and will coordinate efforts to harmonize their plans and goals. He also referred to common denominators in the strategic plans of the ministry and the Dubai Department of Economy Development that allow both of them to work according to joint mechanisms. The memorandum defines trade protection as any action or conduct aimed at ensuring the full enforcement of trade laws, particularly in Dubai, while referring to commercial control as the control and inspection of processes related to economic activities in the emirate and establishments engaged in these activities. The MoU also states that the signing parties shall cooperate in promoting awareness programs that will educate the public and investors on laws and regulations concerning trade protection and their rights under these legislations and procedures. __
