The Departments of Economic Development in Abu Dhabi and Ras Al Khaimah signed a mutual cooperation agreement to exchange information, studies and consultation on issues of interest related to economic development within the framework of their powers in proposing economic policies and the development of strategic plans in cooperation with local and federal government departments and relevant stakeholders in the private sector.
The agreement was signed on behalf of the Department of Economic Development in Ras Al Khaimah by the Deputy Chairman, Sheikh Mohammed bin Kayed Al Qasimi, and on behalf of the Department of Economic Development in Abu Dhabi by the Undersecretary Mohammed Omar Abdullah, in the presence of a number of senior officials in both departments.
On signing the agreement at Abu Dhabi DED’s headquarter, Sheikh Mohammed bin Kayed Al Qasimi said: “within the framework of its mandates and powers, Ras Al Khaimah DED is keen to have mutual cooperation with local economic departments and federal government entities to create an advanced legislative environment by proposing legislations that regulate economic activity and preparing necessary studies.”
He added that all government departments must work together to activate the role of the private sector and propose policies and strategies to develop it for the benefit of the UAE economy, stressing the importance of providing opportunities, facilities and incentives that would encourage investors and businessmen by organizing promotional campaigns and holding economic seminars and conferences at the local and federal levels.
“This agreement reflects the desire of both departments to coordinate their efforts and exchange their experience and physical and human capabilities to best harness their resources and raise the achievement of their strategic goals to higher levels so as to meet the requirements and challenges of globalization” concluded Sheikh Al Qasimi.
For his part, HE Mohammed Omar Abdullah said that the agreement comes to continue the fruitful and constructive cooperation and to crown the ongoing coordination between the two sides in many areas that fall within their mandates and responsibilities. This agreement is another step in our mutual efforts to achieve the strategic objectives of the Government of the United Arab Emirates.
He noted that the most prominent aspects of cooperation and coordination between the two departments lie in the preparation of specialized studies, and the exchange of information on the mechanism of implementation of plans, public strategies, policies and regulations being developed, articulated or proposed according to the procedures and regulations relevant to local governments.
HE Abdullah expressed his pleasure to sign this agreement and concluded that Abu Dhabi DED is keen to execute all the articles and provisions of the agreement in order to enhance mutual cooperation between Abu Dhabi and Ras Al Khaimah in various areas of economy and development.
Both the Departments of Economic Development in Abu Dhabi and Ras Al Khaimah agreed on cooperation and coordination in several areas, notably licensing, control, inspection and consumer protection. This will be achieved by booking and registering trade names, ensuring their compliance with the terms and conditions applicable in the federal licensing system, and agreement on procedures and requirements for the issuance, renewal and revocation of commercial licenses and permits, as well as proposing amendments for the licensing processes (procedures and fees) that contribute to enhance the UAE competitiveness in the business sector.
Within this framework, the agreement states that the two departments shall organize joint training programs and workshops, exchange visits to get acquainted with the practices, experiences and information on the licensing processes, control and inspection, and discuss ways of developing them, as well as exchange information, practices and experiences in the area of customer care, consumer protection and complaint and suggestion management.
The agreement included the development of a joint mechanism to deal with companies and establishments licensed by one party and practicing an economic activity within the scope of the other party illegally, as well as free zone companies engaged in activities outside these zones, and the development of unified terms and conditions for licensing the branches of such companies outside the free zones.
In the area of legislations and laws, the agreement provides for the implementation of mechanisms to work in conformity with laws and legislations that regulate the trade licensing of companies and establishments as well as the obstacles facing dispute resolution on trade names, and the application of federal regulations and laws, particularly consumer protection and commercial fraud laws and other laws currently in force or to be issued in the future, and to review and propose any amendments to the wording of such legislations and laws to the competent authorities.
In the area of policies and strategies, the agreement states that both departments shall review their strategic plans and identify areas of cooperation that serve the goals of the two parties, including mechanisms and policies, as well as to attract foreign investors by supporting foreign direct investment through promotional plans, following-up competitiveness indicators and providing data and information required by various government and private entities.
In this context, the agreement also provided for the importance of exchanging trade information pertaining to international relations, and cooperation to promote and develop exports in the two emirates for the benefit of the UAE economy, as well as exchange of experience and expertise on the outcomes of their practices in the area of export development.
In the area of economic studies and events, both parties agreed to mutually review their annual study and research programs in order to join efforts and prepare studies in the areas of common interest and build direct communication channels to promote cooperation, including an inventory of studies and publications in their possession, in addition to the exchange of economic indicators and statistical information within the scope of their competence.
The agreement also states that both departments shall cooperate in the area of information technology through the exchange of views, examine the possibility of developing electronic links to businesses, and manage shared activities and information via the Internet or via their own websites, as well as exchange experiences in the application of international standards and specifications on technical service management.
Last but not least, the agreement provides for the joint cooperation between the two departments in the area of quality, excellence and training by working together to improve the management of corporate communications, exchange of visits and experiences on training policies and programs in order to develop the management capabilities in the areas of finance, communication, human resources and others, and to hold joint training courses for the development of individual and corporate skills.