UAE steps up monitoring of essential goods prices, supply chains to protect consumers

Abu Dhabi: The UAE is stepping up efforts to monitor the prices of essential goods and strengthen oversight of supply chains as part of measures to protect consumers and maintain market stability.

The move was discussed at the latest meeting of the Economic Integration Committee, chaired by Abdulla bin Touq Al Marri, Minister of Economy and Tourism, and attended by directors general of the UAE's economic development departments.

The committee reviewed progress on recommendations from its previous meeting, including strengthening oversight of retail outlets across the country's markets and enhancing monitoring and inspection mechanisms to maintain market balance, protect consumer rights and ensure the sustainability of supply chains.

Committee members also reaffirmed the importance of regularly monitoring market developments and the prices of essential commodities while taking proactive measures to address any challenges that could affect supply chains.

According to the Ministry of Economy and Tourism, these efforts are intended to preserve market stability, ensure the uninterrupted availability of essential goods and strengthen consumer confidence.

As part of the initiative, the committee reviewed the work of a dedicated team responsible for monitoring essential commodity prices.

The team, which includes representatives from the Ministry of Economy and Tourism, economic development departments and other national entities, is developing an integrated framework to track commodity prices and assess market developments using transparent criteria and clearly defined standards.

The ministry said the framework aims to improve the effectiveness of price monitoring, support market stability and enable more informed decision-making through accurate data and analysis.

During the meeting, the committee also reviewed national initiatives to strengthen the UAE's legislative framework for combating money laundering and the financing of terrorism (AML/CFT), with the aim of reinforcing investor and business confidence.

In addition, members discussed ways to strengthen corporate governance frameworks, improve services for businesses and investors, and support the country's intellectual property ecosystem.

Abdulla bin Touq Al Marri said the UAE continues to prioritise the development of an advanced digital infrastructure for economic legislation, policies and indicators in line with international best practices.

"The Committee's meetings provide an important platform for strengthening coordination and aligning national efforts to develop innovative initiatives and projects."

He added that the UAE's recently launched AI-powered regulatory ecosystem and National Programme for Developing Statistics System are designed to enhance the readiness of the national economy and support the country's ambition to develop proactive legislation for emerging economic sectors.

The committee also reviewed proposals to regulate finance lease activities undertaken by legal persons outside the Central Bank's remit.

According to the ministry, finance leasing can help small and medium-sized enterprises acquire equipment without significant upfront capital investment while diversifying financing sources and attracting global leasing companies to the UAE market.