UAE leads global efforts to combat illegal trade

H.E Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council, praised the international participation witnessed by the World Trade Development Week, which was held in Abu Dhabi.

The event saw the launch of the 'Illegal Trade Environment Index 2018', and aimed to promote strategic partnerships to reinforce the international cooperation to combat illegal trade, as well as to raise awareness about its impact on commercial businesses and consumers.

Sultan bin Saeed Al Mansouri, Minister of Economy, inaugurated the fifth edition of the event, under the slogan, 'The Global Partnership to Fight Illegal Trade and Protect the Intellectual Property Right', in the presence of Mukhisa Kituyi, Secretary-General of the United Nations Conference on Trade and Development, UNCTAD, and local, regional and international participants.

Al Jarwan stated that the workshops held during the event were an opportunity to present the UAE’s efforts to reinforce the legal infrastructure that aims to protect commercial policies, including Federal Law No.19 for 2018 regarding foreign investments in the country, as well as to build an economy based on trust, knowledge and innovation.

He added that the council explained its role, to the event’s participants, as a platform for local companies to invest in other countries, network with the government, and explore investment opportunities abroad, as part of a comprehensive system of monitoring, evaluation and support.

Al Jarwan highlighted the conference’s professional organisation and the message it conveyed, which is that the UAE is the gateway to the Middle East for trade and occupies the third position in international re-exporting, with a global share of 13 percent. He also noted that indicators point out that 2019 will witness a significant increase in investments, in light of the wise leadership’s strategic partnerships with many countries.