The UAE ministry of economy and the Dubai Department of Economic Development (DED) have signed a MoU to boost co-operation in trade protection and the planning, development, and unification of procedures related to trade control.

The MoU is intended to enhance commercial market regulation and create a competitive environment that both protects society and develops the national economy.

The memorandum was signed at the Ministry’s Dubai office by Mohammed Ahmed Bin Abdulaziz Alshihhi, undersecretary of the MoE; and Ali Ibrahim Mohammed, deputy director general for executive affairs, on behalf of Mohammed Bin Ali Al Abbar, director general of the Dubai Department of Economic Development (DED).

Alshihhi said the MoU was an important step in enhancing cooperation between the MoE and the Dubai Department of Economic Development.

'The importance of this MoU lies in its regulation, unification, and development of procedures governing the control of economic activities in Dubai and the establishments engaged in these activities.'

'This agreement establishes an institutional framework consistent with UAE's international obligations and Dubai’s own direction in developing its investment environment and the necessary laws and regulations,' Alshihhi added.

According to Alshihhi, the memorandum represents a general framework for co-operative trade protection between the two signatories.

He pointed out that both agencies were eager to coordinate on the technical, legal, procedural, and training aspects involved in trade protection.-TradeArabia News Service