A panoramic view of the Dubai skyline, featuring the iconic Burj Khalifa, showcases the UAE's thriving business environment. — AFP file
Abdulla bin Touq Al Marri, Minister of Economy, highlights that the UAE boasts over 1.5 million registered trade licences, reflecting the ease of doing business in the country. Bin Touq underscores the UAE's success in positioning itself as a prime global hub for diverse economic activities. This achievement is attributed to the nation's forward-thinking vision and ongoing development aligned with global best practices, flexible economic policies, and advanced legislation fostering innovation and adaptability to rapid changes.
These initiatives align with the UAE's ambition to lead in proactive legislation for emerging economic sectors, in line with the objectives of the ‘We the UAE 2031’ vision. The minister recently presided over the seventh meeting of the Economic Integration Committee for 2024, attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Alia Abdullah Al Mazrouei, Minister of State for Entrepreneurship, along with representatives from local economic development departments across all seven emirates.
The meeting assessed the progress of various economic legislations and their role in boosting the competitiveness of the national business environment, as well as the shift towards a knowledge-based and innovative economic model. The Committee also reviewed recommendations from the previous meeting, focusing on telemarketing mechanisms and ensuring consumer rights protection, in accordance with UAE Cabinet directives.
Bin Touq further noted that the Economic Integration Committee collaborates with all relevant entities to create an advanced legislative framework supporting the UAE's vision to diversify its economy, attract local and foreign investments, and increase the number of companies operating in its markets. The committee discussed the Ministry of Economy's performance in the Government Data Maturity Index, achieving a 95.7 per cent score, reflecting best practices in data management and contributing to a comprehensive economic database supporting the UAE's future economic agenda.
Additionally, the meeting explored a proposed initiative to support and protect the intellectual property rights of UAE products with geographical indications (GI), enhancing their global market presence. This initiative aims to safeguard Emirati producers' rights internationally and promote local products reflecting the UAE's identity and heritage. Such efforts will strengthen trade relations through mutual recognition of geographical indications and enhance the UAE's reputation as a producer of high-quality goods like dates, dairy, honey, and fish.
The committee emphasized the importance of adhering to production standards and IP protection regulations for GI-tagged products, coordinating with relevant authorities to facilitate licensing and ensure compliance, thereby supporting traditional industries, tourism, and national heritage.
Source link: https://www.khaleejtimes.com
