Ministry of Economy, Abu Dhabi Department of Planning & Economy sign trade protection and business control MoU

Ministry of Economy, Abu Dhabi Department of Planning & Economy sign trade protection and business control MoU
 
Al Shihhi: MoU to enhance business control procedures, provide institutional framework following international obligations

The UAE Ministry of Economy (MoE) and the Abu Dhabi Department of Planning and Economy (DPE) have recently signed a Memorandum of Understanding (MoU) formalizing cooperation in the area of trade protection. The MoU will streamline trade control procedures in accordance with agreed regulations in a move to tighten control over the commercial markets and create a competitive environment that both protects society and develops the national economy. 
 
The Memorandum was signed by H.E. Eng. Mohammed Ahmed bin Abdulaziz Alshihhi, Undersecretary of the MoE; and H.E. Mohammed Omar Abdullah, Undersecretary of the DPE; at the Ministry of Economy in Abu Dhabi. The signing ceremony was attended by H.E. Humaid bin Butti Al Muhairi, Assistant Undersecretary for Companies and Control Affairs, and other officials.
 
 
H.E. Alshihhi confirmed that the MoU is an important step in enhancing cooperation between the Ministry of Economy and Department of Planning and Economy. “We are proud of the existing partnership between our two parties; the Memorandum is an important fruit of this collaboration,” said H.E. Alshihhi.
 
He further explained that the importance of the MoU lies in its regulation, unification, and development of procedures governing the control of economic activities in Abu Dhabi and the establishments engaged in these activities, following an institutional framework consistent with UAE's international obligations and Abu Dhabi’s own direction in developing its investment environment and the necessary laws and regulations.
 
Alshihhi added that the MoU aims to activate trade control mechanisms in the UAE, pointing out 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) of2002 on the protection and organization of industrial property and patents; and Federal Law No. (17) of 2004 on trade concealment.
 
H.E. Alshihhi emphasised that under the terms of the Memorandum, the MoE will establish control and inspection work mechanisms between itself and the DPE in Abu Dhabi; conduct training; unify pertinent data; and coordinate between the two parties on judicial authority. Teams will be formed to activate the control mechanisms and cooperate on the preparation of departmental inspectors. He also explained that the consumer protection law was created to shield 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 all possible negative local market practices.
 
From his side, H.E. Abdullah was very pleased with the signing of the MoU as it affirms the productive collaboration between the Ministry of Economy and his department. He explained that 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 DPE that allow both of them to work according to joint mechanisms, emphasizing that the MoU facilitates this. He expressed his hope in the emergence of tangible results as a result of this partnership in the near future, for the benefit of the consumers and the business community of Abu Dhabi and the other emirates.
 
H.E. Humaid bin Butti commented that the Ministry signed the Memorandum mainly to implement control responsibilities, and welcomed cooperation and coordination between the Ministry and the Department. He also pointed out that the joint committee mentioned in the Memorandum is highly capable of monitoring and managing the implementation of the MoU's terms and studying current market trends. He added that the two parties will strive to formulate procedures that will encourage proactive prevention of illegal trade practices and thus protect the economy of Abu Dhabi and the UAE in general.
 
 
The Memorandum defines trade protection as any action or conduct aimed at ensuring the full enforcement of trade laws, particularly in Abu Dhabi, while defining commercial control as the control and inspection of processes related to economic activities in the emirate and establishments engaged in these activities. The Memorandum also represents a general framework for cooperation between the two signing parties in the area of trade protection, as they seek to coordinate in technical, legal, procedural and training aspects related to trade protection.
 
Under the terms of the MoU, both parties will focus on good preparation to achieve the objectives of organizing, unifying and developing procedures for the control of trade, including the exchange of pertinent data, documents, studies, and publications. They will also cooperate on establishing an easily accessible and maintainable unified database for these resources. The Memorandum also requires the creation of rules and foundations for trade protection 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 Abu Dhabi.
 
The Memorandum also states that the MoE and the Abu Dhabi DPE will adopt sophisticated mechanisms for the implementation of public policies that support trade protection, including the monitoring of market activities. The Department will manage inspection processes following prescribed legal parameters in coordination with the Ministry. The MoU also provides for the implementation and monitoring of laws, regulations, and decisions concerning the protection of trade, and the use of necessary legal and administrative procedures.
 
The signing parties shall cooperate in promoting awareness programs that will educate the public and investors on laws and regulations concerning trade protection, their rights under these legislations, and procedures they must follow in case of violations. The Abu Dhabi DPE shall hear complaints submitted by the public as related to trade legislation and protection, following the agreed upon mechanism without prejudice to provisions of the laws that require otherwise.
 
The two parties also agree to coordinate in the organisation of conferences, seminars lectures, courses and workshops on trade control and participate in projects, programs and courses on trade protection as established by both parties, which may require practical or technical experience or any other form of assistance that shall help meet the goals contained in the Memorandum.
 
A joint committee will be established allowing each party to nominate its representatives within two weeks from the date of signing of the MoU; this committee will follow up the implementation of the Memorandum and make suggestions regarding development plans and programs necessary to perform the tasks assigned to each party in accordance with provisions of the MoU. The committee will also identify requirements for the implementation of the said provisions and examine economic phenomena that affect a large segment of society, and accordingly take the appropriate actions, including the amendment of any trade legislation or the issuance of regulations and decisions.
 
The DPE in Abu Dhabi will send the MoE a periodic report every three months covering the local trade control processes it performs; the report will specifically contain the inspections processes carried out by the Department, the actions it has taken, obstacles to trade control, and appropriate recommendations and suggestions. The Ministry will study the reports submitted by the Department and act accordingly.