The UAE Ministry of Economy held a seminar on “Selected Commodities within the Trade Exchange Facilitation & Development Agreement between Arab countries that come under the Arab free Trade Area” in cooperation with ZonesCorp in Abu Dhabi.

Mr Abdullah Al Fan, Consultant of Industrial Affairs at the Ministry of Economy said the initiative is part of the Ministry’s strategy to support products from the UAE in overseas markets.

Mr Al Fan said the Ministry of Economy is committed to developing laws and legislations to enhance the performance of the economy, in line with the federal strategy of the government that aims to ensure sustainable and balanced development, and in tune with the goals of Vision 2021 to make the UAE among the best nations in the world.

“This year, the Ministry will issue a draft law of origin that aims to regulate the legal status of certificates of origin and specify the origin of national products and to fine violators who present inaccurate documents and data,” he said.

Mr Al Fan said that the Department of Origin at the Ministry of Economy will start issuing Arab certificates of origin online in order to facilitate the work of investors and to strengthen the performance and competiveness of the economy. “The four key topics of the seminar emphasize Ministry’s commitment to this agreement to enhance the level of coordination and increase trade exchange with various countries all over the world.”

His Excellency Mohammad Hassan Al Qamzi, CEO, ZonesCorp said: “We are pleased to host this strategic event and to cooperate with the Ministry of Economy, which is exerting huge efforts to support the performance of industrial sector in the UAE and to strengthen exports of national products and trade exchange between Arab countries. This event will contribute to enhance our communication with factories based at its origin and encourage national products by issuing national certificates of origin”.

Mr Rashed Al Darmaki, Director of Investors Department at ZonesCorp, emphasized the commitment of the Institution to cooperate with the Ministry of Economy and the Abu Department of Economic Development to create awareness on national products and local industries and to support it in the Arab countries.

“This event will create awareness among investors and factories owners on the features of national products. It introduces to them the importance of certificates of origin of national products that will help export their products within the framework of Arab Free Trade Area as well as the benefits of customs exemptions,” he added.

The seminar featured discussions on four papers on the role of the agreement and the purpose of detailed origin bases, and the origin bases that have to be achieved for iron, aluminum, carpets and paper, and the challenges faced by and ambitions for national products.
 

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