According to a tweet by the Ministry of Economy, one million certificates of origin were issued in 2021. Image Credit: Gulf News Report

Dubai: The UAE has embraced international laws on the origin of goods keeping in mind the country’s increasingly important role in global and local trade, a senior Ministry of Economy official said on Wednesday.

Addressing a briefing, Abdulla Ahmed Al Saleh, Undersecretary of the Ministry of Economy, emphasised that the regulation represents a milestone in the UAE’s efforts to regulate rules in accordance with international best practices.

The Implementing Regulation on Certificates of Origin law combines all other legislations the UAE had implemented by separate bodies since 1983.

Earlier, task forces from the Ministry of Economy, Chambers of Commerce and Industry, and customs bodies and departments in all the emirates had come together to formulate the best mechanisms for dealing with certificates of origin

Al Saleh explained that the regulation takes into account the transparency in business transactions, as it clarifies the procedural and substantive rules relating to the determination of the origin of the product, the method of issuing non-preferential certificates of origin for national products, the UAE certification authorities, and their respective roles. It also establishes the mechanisms for dealing with certificates of origin for goods received by the country and the distribution of roles and competencies thereon, thereby giving investors, exporters, traders, and suppliers of goods a clear vision of the rules applicable with respect to their products in accordance with their certificate of origin.

“In line with the objectives and projects of the 50, the UAE continues to develop its economic system according to a new model that is more flexible and open to global markets, thus strengthening its role as one of the region’s major export countries and a vital gateway to global import, export, and re-export activities. Hence, the importance of the issuance of these implementing regulations needs to be highlighted, as the rules and certificates of origin are a key factor in the application of the UAE trade policies, the facilitation of its foreign trade, and the development of its exports to global markets,” Al Saleh said.

According to a tweet by the Ministry of Economy, one million certificates of origin were issued in 2021, of which 300,000 were preferential certificates of origin while the rest were non-preferential.