The Ministry of Economy, in cooperation with the economic departments, carried out 4,444 inspection tours of local markets to detect cases of commercial fraud and counterfeiting and forgery of trademarks only, from the beginning of 2023 until the first half of this year, resulting in the detection of 620 violations.
In a statement today, the Ministry confirmed that it will continue, in cooperation with its partners, to develop economic policies and legislation to improve the consumer protection system in the country, guarantee their rights, and provide a stable consumer environment and vibrant markets in accordance with international best practices, which contributes to creating a competitive climate for establishing businesses, enhancing the flexibility of practicing economic and commercial activities, and supporting Consolidating the country’s position as a leading global center for trade, business and innovation.
She stated that Federal Decree-Law No. (42) of 2023 regarding combating commercial fraud constitutes a new impetus for an integrated legislative system to protect consumer rights and confront commercial fraud in the country in accordance with the best international practices, by establishing all mechanisms and controls to confront commercial fraud with the aim of preventing trade in counterfeit, adulterated and spoiled goods, and combating activities of imitating original goods and commercial fraud in all its forms and types in a way that ensures the establishment of the foundations of fair competition in the country, and enhances its leadership in global competitive indicators and reports.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, confirmed that this law represents a new milestone to enhance the state’s efforts in shifting towards a new economic model based on fair competition and innovation, developing the regulatory and legislative environment for the economic sector, and enhancing the business environment and its governance, in line with the strategic objectives of the Ministry of Economy to develop The regulatory and legislative environment for the economic sector.
He said: “This law, which replaced the previous legislation to combat commercial fraud, comes to enhance the competitiveness of the business environment for companies and trademark owners in the country, stimulate innovation in business, support the protection of intellectual property, and at the same time align with the federal legislation for “consumer protection”, “trademarks”, “copyright”, “neighbouring rights” and “commercial agencies”, noting that its provisions were developed with a proactive and flexible approach that anticipates future trends.
The most prominent outcomes of the law include providing a suitable and safe environment for purchasing by combating counterfeit, imitation and spoiled goods, regulating the procedures for withdrawing counterfeit, imitation or spoiled goods from markets and warehouses and refunding their value, and establishing the “Supreme Committee for Combating Commercial Fraud” which will undertake the enforcement of policies to combat commercial fraud in all markets of the country in coordination with the relevant federal and local authorities.
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