A subcommittee under the Dubai Chamber of Commerce and Industry - automotive industry committee - has recently been formed to study the fake spare parts market, which has cost the companies losses totalling 600 million dirhams, the Gulf News reported Tuesday.
Quoting a chamber official, the paper said that Dubai police and the Ministry of Interior were also requested to classify used and new vehicles annually in the local market.
Anwar Gargash, executive director of Gargash Enterprises and chairman of the automotive industry committee was quoted by the daily as saying that "the subcommittee will examine the fake car parts market and put recommendations to the officials."
He estimated the Middle Eastern genuine spare parts market at $1.2 billion, and Gargash estimated market losses due to fake spare parts at Dh500-Dh600 million, the paper said.
"Many other markets face a similar problem, but officials play a role in market protection," Mutaiwee said -- Albawaba.com
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