The Economic Integration Committee studies the evolution of procedures for the internal transport of goods between the emirates of the country

His Excellency Abdullah bin Touq Al Marri, Minister of the Economy, underlined the importance of the national and exceptional role played by the local economic development services to complete the State’s file within the framework of the anti-money laundering system. Money and Counter Terrorist Financing and Financing of Illegal Organizations Meet the State’s requirements for the Financial Action Task Force (FATF).

This happened during the eleventh meeting of the Economic Integration Committee, which was held virtually, under the chairmanship of His Excellency Abdullah bin Touq Al Marri, Minister of the Economy, and in the presence and presence of His Excellency Dr Ahmed bin Abdullah Humaid Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade In addition to their Excellencies the representatives of the departments of local economic development in all the emirates of the country. His Excellency Abdullah bin Touq Al Marri said at the first meeting in 2022 that the committee plays a fundamental role in improving the country’s economic environment and supporting efforts to shift to the new economic model for become more flexible, competitive and sustainable, since it succeeded during the year 2021 in developing 7 main files, namely: Intensifying efforts to complete the requirements of the country’s mutual evaluation file in terms of against money laundering and terrorist financing; the modification and updating of the law on the commercial register and the development of a new vision of the national system of economic registration; the draft law on family businesses; a bill amending the law on commercial agencies; Support joint efforts to develop the country’s non-oil foreign trade movement with countries in the region; formulate plans to improve the response of economic sector institutions to emergencies and crises, in particular economic crises; Strengthening of integration frameworks at federal and local levels to support the country’s position with indicators of global competitiveness linked to the business sector. He explained that during the ten meetings held last year, the committee issued 77 recommendations of which 91% have been completed, 70 recommendations, while work is currently underway to complete the 9% of the remaining recommendations according to the timetable linked to the requirements for implementing the recommendation, stressing that Pursue joint efforts through the committee to discuss priority economic issues, improve the results of plans and initiatives implemented by the various development agencies of the country and achieve economic objectives for the next fifty years. His Excellency said that the committee’s agenda for the year 2022 includes many important economic files on which the committee will work by developing integrated plans in various economic fields and by promulgating, amending and developing economic laws to improve the economy. competitiveness of the State, as well as monitoring and complementing economic recovery initiatives, in order to achieve the objectives of the principles and projects of the fifty.

In addition, the committee reviewed the national efforts made to strengthen the position of the State in the fight against money laundering, the fight against the financing of terrorism and the organization of real data on beneficiaries, and the driving role played by local economic development services in meeting the requirements of mutual evaluation. the Financial Action Task Force (FATF), which will start in mid-January. This included: updating data, providing incomplete data and imposing administrative sanctions in accordance with Cabinet Resolution No. 53 of 2021 regarding violators of Cabinet Resolution No. 58 of 2020 regarding the regulation of data on actual beneficiaries, in addition to providing data on inspections. The committee reviewed a comprehensive economic study on the procedures and regulations for the transit of trucks, transportation, unloading and distribution of products and goods between the emirates of the country, and ways to improve and develop them further. a way that facilitates the internal movement of products and goods, improves commercial activity in the country and provides the necessary support to all economic activities and sectors of activity in the country to improve their productivity and increase their competitiveness capacities. He was also informed of the progress of the study on the development of productivity indicators, which is being implemented by a work team from the Ministry of the Economy and the country’s economic development services in cooperation with the Federal Council. demography, with the aim of developing a new model to identify priority sectors in increasing productivity in the country’s economy as well as the skills, occupations and abilities that have the greatest impact on productivity. The committee ordered further efforts to complete it within the next two months. The committee held 10 meetings in the past year 2021, during which it worked to achieve national goals in accordance with the vision and guidance of the wise leadership, developing joint mechanisms to develop economic work at federal levels. and local, improve opportunities in the business environment in the country, accelerate procedures and decisions for the implementation of economic initiatives and meet the challenges and monitoring of developments and problems related to the market and the sector of affairs, as well as discuss future plans and proposals to support the country’s preparations for the next fifty years.

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