Abu Dhabi's ADDED seals co-operation deal with Masdar
INDUSTRIAL NEWS
The Abu Dhabi Department of Economic Development (ADDED) said it has signed a co-operation agreement with Abu Dhabi Future Energy Company (Masdar) on protecting consumers, trademarks, control and inspection of markets within the Masdar City Free Zone.
The agreement will enhance cooperation between both sides to set up rules and foundations for commercial protection and expanding its scope.
The agreement, which was signed by Rashid Abdul Karim Al Balooshi, Under-Secretary of the Department, and Mohamed Jameel Al Ramahi, the Chief Executive Officer of Masdar, comes as part of the interest of two parties in promoting the business ecosystem within the free zones in Abu Dhabi.
As well as its dealings with local markets, protection of rights and ownership of trademarks and consolidation of inspection and supervision visits to the markets.
Al Balooshi stressed the ADDED’s interest in promoting the joint efforts with the free zones’ authorities in Abu Dhabi to ensure the protection of foreign companies rights and concurrently enhancing consumers trust, which in turn provides a stimulating investment ecosystem across the emirate.
He also commended the efforts of the free zone authorities in Abu Dhabi, as well as its keenness to constantly coordinate with all local authorities to ensure the provision of a package of procedures and commercial protection rules under the laws and regulations applicable in the UAE, which in turn enhances its role as a centre for foreign direct investments in the region.
Al Ramahi pointed out that Masdar seeks to organise work and supervise markets in the free zone within its jurisdiction, which in turn qualifies it to issue multi-activity commercial and service licences for commercial establishments.
As the cooperation agreement with ADDED aims to enhance the integration of roles to ensure the protection of companies rights, trademarks and consumers for creating a competitive environment.
Under the agreement, ADDED will address the complaints referred to it from Masdar under the applicable procedures, in addition to receiving all consumer complaints against commercial establishments operating within Masdar’s free zone, it stated.
The agreement also stipulates that in case it is necessary to take administrative action, the ADDED will refer the complaint and recommendations to Masdar to impose the penalties and reconciliation thereof under the schedule of administrative penalties and applicable procedures.
Under the agreement, Masdar delegates ADDED to receive all consumer complaints against commercial establishments operating within the free zone in Masdar City, while Masdar applies all procedures of control and seizure under the procedures applicable in the department, especially for counterfeit and forged goods.
Furthermore, Masdar is responsible for all necessary procedures against the facilities registered with it to keep them under obligation to change their trade name in case it conflicts with a registered and protected trademark, based on a formal complaint from the owner of the original trademark.
It also delegates the department’s inspectors to carry out control and inspection processes to detect commercial violations within the scope and jurisdictions of Masdar in Abu Dhabi.-TradeArabia News Service
