Workshop helps UAE firms meet requirements of Saudi market - GulfToday

Workshop helps UAE firms meet requirements of Saudi market

Market

Participants during the UAE exporters’ workshop in Dubai on Wednesday.

Business Bureau, Gulf Today

The Federation of UAE Chambers of Commerce and Industry in partnership with the Dubai Chamber of Commerce and Industry and the Saudi Food and Drug Authority recently hosted a workshop for UAE business and stakeholders interested in exporting to Saudi Arabia.

The workshop, held at Dubai Chamber’s premises, aimed to clarify the export procedures for products under the supervision of the Saudi Food and Drug Authority including food, medicine, medical and cosmetic products from the UAE to Saudi Arabia, in order to ensure smooth entry of these products. The workshop also highlighted on the export mechanisms and challenges faced by UAE exporters to Saudi market.

The workshop was attended by more than 80 participants from several sectors and stakeholders in the UAE, including the Ministry of Health & Prevention, the Ministry of Climate Change and Environment, Abu Dhabi Agriculture and Food Safety Authority, Dubai Exports, Abu Dhabi Customs, Dubai Customs, Abu Dhabi Food Control Authority, Sharjah Chamber, DP world, Dubai Trade, Sharjah Municipality, and RAK Municipality, amongst others.

For his part, Atiq Juma Nasib, Senior Vice President of Commercial Services, Dubai Chamber, noted that Saudi Arabia remains the top trade partner for UAE within the GCC and Arab countries, and stressed the importance of forging new partnerships between business communities in UAE and Saudi Arabia, adding that the shared vision of the two countries is centered on supporting sustainable growth and boosting the contribution of the private sector to economic growth and development.

Meanwhile, Dubai Chamber of Commerce and Industry (Dubai Chamber) hosted a legal workshop today at its premises, which focused on key features and requirements under the new UAE Commercial Companies Law and DIFC Companies Law. This comes in line with the Chamber’s ongoing efforts to inform the Dubai business community of the latest legal changes in the business environment and as part of its mandate to help commercial enterprises operate more easily.

Organised in collaboration with Afridi & Angell, the workshop was attended by Dubai Chamber members, lawyers, legal practitioners, investors, consultants, managers, business owners and contract specialists. The session introduced the participants to the most important provisions of the UAE Companies Law and the DIFC Companies Law and the changes they are bringing to the business environment in the country.

Run by Charles Laubach and Danielle Lobo, Partners at Afridi & Angell and Abdus Samad, Associate at Afridi & Angell, the workshop highlighted the main characteristics of the provisions and variables in the UAE and DIFC Companies Law, as well as the impact that these laws will have on companies and businesses in the UAE.

Jehad Kazim, Director, Legal Services Department, Dubai Chamber explained that Dubai Chamber always keens on sharing the knowledge related to business sector and its regulation by hosting specialised training courses, legal workshops and awareness sessions.  

“The UAE Companies Law and its changes have added value to the business community and enhanced the country’s status as an ideal destination for investment,” Kazim explained.

Charles Laubach and Danielle Lobo said: “The new Commercial Companies Law has been in effect for almost five years now and has brought in important changes to commercial operations established in the UAE, especially limited liability companies. Although existing companies have been relieved from the requirement to amend their constitutive documents, some uncertainty remains. It is therefore essential to understand the key features of the law and how to comply with it, both for new and existing companies.”

Abdus Samad commented “The new DIFC Companies Law came into force in November 2018 and has introduced substantial enhancements to the corporate governance regime applicable to DIFC companies. Importantly, all DIFC limited liability companies have been converted to companies limited by shares and the concept of a ‘public’ and ‘private’ company has been introduced.

Dubai Chamber’s agenda to support business growth in Dubai includes a programme of seminars and workshops that enhance the awareness and culture of the business community about the latest developments and laws governing the business environment. The programme forms part of the chamber’s continuous efforts to create a stimulating environment for commercial enterprises operating in Dubai.

Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.