The UAE has reached a significant milestone, with over 1.5 million registered trade licenses, reinforcing its position as a global economic hub. This achievement was highlighted during the seventh meeting of the Economic Integration Committee for 2024, chaired by H.E. Abdulla bin Touq Al Marri, Minister of Economy. The meeting was attended by key figures such as 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 Committee’s discussions focused on the importance of developing economic legislation to enhance the UAE’s competitiveness and align with the country’s ambitious vision of becoming a global leader in new economic sectors. These legislative efforts are part of the broader goals of the ‘We the UAE 2031’ vision, which aims to drive the nation’s transition to a knowledge-based economy, fostering innovation while remaining adaptable to global trends.
Bin Touq emphasized that the UAE’s continued success in attracting diverse economic activities is a direct result of its forward-thinking leadership and robust economic policies. These efforts are designed to create a legislative framework that supports innovation, investment, and business growth, making the country an attractive destination for both local and international investors.
Additionally, the Committee reviewed the UAE Ministry of Economy’s performance in the Government Data Maturity Index, where it scored an impressive 95.7 percent. This reflects the Ministry’s commitment to best practices in data management, contributing to the country’s economic development and aiding strategic decision-making for enhancing international economic relations.
In line with these efforts, the Committee also discussed a new initiative aimed at protecting the intellectual property rights of UAE products with geographical indications (GI). This initiative aims to expand the global reach of local products like dates, dairy, honey, and fish, ensuring their competitiveness and safeguarding Emirati producers’ rights in international markets.
