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Saturday, May 18, 2024

UAE Cabinet Liberalizes Food Import Licenses

UAE Cabinet(Abu Dhabi) – The UAE Cabinet during a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has decided to liberalize the trade of 12 essential commodities in a move to curb soaring food prices.

The crucial decision is taken in accordance with a memorandum submitted to it by the Ministry of Economy. The import liberalization move covers all types of beverages, dairy products, livestock and edible oils.

Welcoming the decision, H.E Eng. Sultan Bin Saeed, the UAE Minister of Economy said, “The decision of the UAE Cabinet, to liberalize the trade of 12 essential commodities will contribute to market stability and further enhance customer rights”. He added that the move will further strengthen the competitiveness of the UAE economy by curbing monopoly practices and ensuring the timely supply of goods and services for consumers on a timely basis without any unjustified price rise.

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