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FINANCIAL NEWS
UAE imposes USD272k fines over fake products
30 Nov 2011
(MENAFN) UAE’s Minister of Economy, Sultan Bin Saeed Al Mansouri, said that during the January-September period, the ministry’s Department of Commercial Control imposed USD272,000 in fines over fake products, reported Gulf News.
Al Mansouri added that during the mentioned period, the department carried out 19,000 inspections, of which 8,072 were related to consumer protection, while 10,063 were related to counterfeit goods, 558 to evaluate whether copyright laws were followed, and 109 to ensure that trademark laws were being observed, and the rest to plants.
He also said that 772 of the issued fines were related to consumer protection, 595 for fake products, 71 related to copyright violations and the remaining related to trademark laws.
It is worth noting that the UAE’s ministry of economy is preparing a new draft law to fight commercial fraud and counterfeiting.
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