UAE industry regulation

28 November 2007

Legislation to regulate the United Arab Emirates industrial sector is to be proposed by the Ministry of Finance and Industry.

The ministry is currently holding discussions on the introduction of federal anti-dumping laws, with provision for compensation and protection.

"What we seek is not only the development of the sector, but also the protection of national industries from international malpractices such as dumping, in addition to the motivation of the various sectors, as we believe that a regulated industry will result in a regulated product," said Mohammad Khalfan Bin Kharbash, the minister of state for financial and industrial affairs.

However, the minister insisted the proposed rules will not create a protectionist environment.

"What we aim for is not to create protectionism … Instead we seek to protect our production from external malpractices that threaten our industrial development," he explained.

Another proposal under discussion is establishing a regulatory body, the Emirates Authority for Industrial Development, to oversee the new regulations and coordinate with other government authorities.

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