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ABU DHABI / WAM
The Ministry of Economy (MoE) revealed that the total number of commercial agencies registered in the UAE markets across various sectors reached 5,944 by the end of last year.
In addition to the 348 new agencies registered during 2020, 65 new agencies were registered during the first quarter of this year.
The ministry emphasised that it is extremely important for establishments to renew the registration of their commercial agencies annually at the specified time to ensure that the registration remains valid and enjoy the privileges and protection offered by the law.
The ministry underlined the necessity to expedite the renewal to avoid delisting of agencies according to the provisions of Cabinet Resolution No. 3/3 of 2006, which authorises the Ministry to cancel the registration of commercial agencies that has not been renewed for a year or more. The Ministry indicated that it will delist non-renewed agencies within the next two months.
It also explained that the UAE has achieved, thanks to the leadership directives, a significant step forward in organising the commercial agencies sector, relying on its highly developed legislative environment. This helps maintain the competitiveness of its sustainable economy.
The sector contributes to building national facilities with huge investments, attracting foreign investment, creating jobs and building expertise, regulating internal trade, preventing commercial fraud, developing transport and shipping sectors and attracting shoppers.