UAE Introduces New E-Commerce Decision in Recent Regulatory Move
The United Arab Emirates has recently enacted a pioneering electronic commerce law aimed at advancing its business environment to compete globally.
The new e-commerce law propels the UAE into a progressive economic model.
The Assistant Secretary of the Ministry of Economy, Abdullah Ahmed Al Saleh, pointed out that the UAE's shift to a new economic model based on adaptability, creativity, and entrepreneurial spirit is reflected in this proactive move.
Driving sustainable development
The introduction of the e-commerce law signifies the commencement of a new era in the UAE's efforts towards sustainable economic and social development. By leveraging cutting-edge technology and developing intelligent infrastructure, the law is designed to stimulate the expansion of commercial activities.
Revolutionizing Trade Regulations
Described as an integrated framework, the new law is poised to revolutionize the legislative and regulatory environment for trade through modern technical means. Aligning with the "We are the Emirates 2031" vision, the UAE aspires to lead the world in drafting proactive legislation for emerging economic sectors, enhancing its global ranking.
Elevating the Business Environment
Federal Decree Law No. 14 of 2023 focuses on e-commerce, or digitally conducted trade, mirroring the UAE's strategic thrust towards digital transformation. Al Saleh highlighted that this law is the UAE's primary federal legislation governing online trade, intending to improve the business environment by facilitating contracts, increasing efficiency, reducing business costs, and ensuring business stability.
Tech-Neutral Approach
The technology-neutral approach of the law is a noteworthy feature. It embraces all current and foreseeable modern technological means as well as future developments. Al Saleh highlighted how the law can evolve with new technologies without requiring regular modifications to the regulations. This dedication to technical neutrality is essential for laws that are directly related to technology and how it is changing in the business world.
Consumer Protection and Operational Flexibility
The law safeguards consumer interests and regulates product and service exchanges and refunds. Notably, it does not impose additional obligations on digital traders or service providers, ensuring a balance between consumer protection and operational flexibility.
Promoting Investments and Job Opportunities
Al Saleh emphasized that the law strengthens the economic and legislative systems, fostering national and foreign investments while diversifying commercial operations. By ensuring high-quality services for consumers, the law contributes to the creation of more job opportunities, supporting the UAE's broader economic goals.
