Abu Dhabi: The Economic Integration Committee, under the leadership of Abdulla bin Touq Al Marri, Minister of Economy, held its seventh meeting for 2024 to discuss key developments in the UAE’s economic landscape. The meeting, which included participation from 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, focused on enhancing the national business environment and transitioning to a knowledge and innovation-based economic model.
According to Emirates News Agency,the Committee examined the progress of economic legislations and their role in bolstering the UAE’s competitiveness as a global business hub. The meeting also addressed the implementation of recommendations from the prior session, emphasizing the regulation of telemarketing activities to safeguard consumer rights, aligned with UAE Cabinet directives.
Minister Bi
n Touq highlighted the UAE’s achievement of becoming a global economic destination, attributed to its leadership’s strategic vision, adoption of flexible policies, and legislative advancements that embrace innovation. These measures align with the ‘We the UAE 2031′ vision, aiming to lead in legislative development for emerging economic sectors.
The discussions underlined the Committee’s ongoing collaboration with national entities to foster a legislative environment conducive to economic diversification, investment attractiveness, and business growth. Notably, the UAE currently hosts over 1.5 million registered trade licenses, underscoring its dynamic economic landscape.
Furthermore, the Committee evaluated the Ministry of Economy’s performance, which scored 95.7 percent in the Government Data Maturity Index, reflecting excellence in data management. This contributes to a robust economic database crucial for strategic decision-making, international economic relations, and the financial monitoring of compani
es, thereby supporting SME competitiveness and sustainability.
The meeting also introduced a proposed initiative to protect UAE products with geographical indications (GI), focusing on intellectual property rights to enhance their regional and global market presence. This initiative aims to safeguard Emirati producers’ rights internationally and promote products that embody UAE’s identity, such as dates and honey.
Additionally, the Committee stressed the importance of compliance with production standards and IP regulations for GI products, in collaboration with relevant authorities. This initiative supports traditional industries, boosts tourism, and preserves national heritage, reinforcing the UAE’s reputation as a ‘country of origin’ for premium products.
