New law will set standards of fair competition, says FNC
The UAE Federal National Council (FNC) has approved a federal draft law on international trade which aims to protect local industry.
The council stressed the measures will tackle “harmful practices” in international trade from non-Gulf Cooperation Council (GCC) countries, state news agency, WAM, reported.
It said the law will set standards of fair competition between local and foreign products, and combat harmful practices in international trade such as flooding the domestic markets with products, and the increasing imports that threaten the domestic industry.
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