12% growth rate of e-commerce companies registered in the Abu Dhabi Chamber " 2022 -2023 "
ABU DHABI, 9th May / WAM / A workshop organized by the Abu Dhabi Chamber of Commerce and Industry revealed that the number of e-commerce companies registered in the Abu Dhabi Chamber increased by about 12% between 2022 and 2023, at a time when the e-commerce market in the Middle East and North Africa region is witnessing a significant increase and is expected to reach a size About $57 billion by 2026.
His Excellency Ahmed Khalifa Al Qubaisi, Director General of the Abu Dhabi Chamber of Commerce and Industry, said, “The workshop is part of a series of workshops that the Chamber intends to organize during the coming period, with the aim of raising the level of awareness among the private sector about the new federal and local laws that affect the business community directly and indirectly.” Based on the Abu Dhabi Chamber’s firm belief in the necessity of providing entrepreneurs and businessmen across the emirate with the basic tools and knowledge required to move flexibly and effectively in the world of electronic and digital commerce, in order to advance the knowledge and innovation economy in the UAE and Abu Dhabi and establish sustainable growth.
He added, “The importance of this workshop is to highlight the importance of the new trade law and its influential role in shaping the promising future of the UAE economy, and in enhancing the dynamism of the local business community, which forms the backbone of the national economy and doubling its ability to drive prosperity in our country towards greater leadership, progress and prosperity.” By stimulating the growth of trade through advanced technologies, which supports the country’s attractiveness for investments and contributes to strengthening its leadership as a global center for business and trade.” The workshop shed light on Law No. (14) of 2023 regarding trade through modern technology.
The workshop, which was organized by the Chamber’s Data and Economic Studies Department in cooperation with the Ministry of Economy, hosted the Legal Advisor Hassan Riyad Al-Kilani in the Office of the Undersecretary of the Ministry of Economy, along with a number of representatives of the sectoral work groups operating under its umbrella, as well as the heads and owners of many private companies operating in the trade sector. And other economic fields.
On the other hand, the workshop contributed to enhancing the awareness of participants and attendees about the most important electronic and digital commercial laws recently issued in the country, which support the movement of trade and the most important changes that support growth, the most prominent of which is the federal decree law No. (14) of 2023 regarding trade through modern technological means. , which is in line with the UAE’s strategic direction towards digital transformation.
Al Kilani touched on the importance of the new law in supporting raising the UAE’s ranking in global economic competitiveness indicators such as the Global Competitiveness Report and the Ease of Doing Business Report, and its role in accelerating the digital transformation in the economy and enhancing the UAE’s position as a center for business activities in the fields of technology and modern technology, stressing The need for companies to adopt modern technological means in trade and adhere to applicable laws and regulations, enabling them to open new horizons for growth and expand their reach locally and internationally.
He pointed out that the law anticipates the future and is not limited to current commercial operations that are provided by specific technical means such as electronic or digital means or “Blockchain” and others, but rather includes all current and future modern technical means that are used for sales or purchases of goods through various technical means.
Al-Kilani reviewed the most prominent outcomes of Law No. (14) of 2023 regarding trade through modern technological means, including achieving the state’s strategic goals in the field of digital transformation and strengthening the legislative and regulatory framework for commercial operations using modern technical means, as well as attracting more investments and skills and stimulating business. Providing goods and services using these technologies and many other fruitful outcomes.
He added, “The law also contributed to achieving integration of roles between the federal and local authorities concerned with trade activities through modern technical means, by providing flexible legislation to enable those authorities to exercise their powers and achieve compliance with the requirements at the same time, starting with the requirements of the Central Bank regarding digital payment gateways, and the requirements of the Federal Authority.” Taxes, the Telecommunications Regulatory Authority and the Digital Government, passing through the requirements of the federal and local authorities regarding cybersecurity, reaching the necessary approvals from the local authorities concerned with the digital transformation of commercial activities and ending with the requirements of the Departments of Economic Development to license commercial activity and merchants who practice commerce through modern technological means.”
He pointed out that the law did not introduce any additional requirements, licenses or approvals, but rather aims to achieve the requirements, licenses and approvals of the concerned authorities to ensure the safety of doing business.
Al-Kilani said, “The law sets the necessary frameworks in the field of trade through modern technological means, whether electronic, digital, or other commerce, in order to ensure the necessity of regulating that relationship between contract parties and protecting the consumer and concerned parties based on technical development and the communications revolution, and in a way that contributes to increasing Effectiveness of trade through modern means of communication, state infrastructure and logistics and transportation sectors.”
For his part, Arif Al-Farra, economic advisor at the Abu Dhabi Chamber, highlighted during the workshop the importance of the new law in supporting the readiness of the country’s economic legislative structure to receive more national and foreign direct investments, ensuring the provision of the best services to merchants and consumers, increasing job opportunities in the country, and keeping pace with trends. Advanced technology.
He pointed out that the e-commerce market is witnessing a rise in the Middle East and North Africa region, and is expected to reach about $57 billion by 2026, in addition to expectations of an increase in the contribution of e-commerce to the total retail trade in the region from 5.7% in 2022 to 8.3% in The year 2026, noting that the United Arab Emirates ranks third in terms of the total volume of e-commerce in the Middle East and North Africa region in 2022.
Al-Farra pointed out that China has emerged at the global level as the largest e-commerce market in the world, as its total electronic sales exceeded the $3 trillion barrier last year, noting that many economic sectors in the Emirates are achieving rapid growth in the field of e-commerce, due to the development of Digital financial technologies and technologies in recent years.
Al-Farra reviewed many factors that are considered a fundamental pillar in strengthening the UAE’s position in e-commerce, including the distinguished geographical location, the development of cybersecurity systems, the competitive environment for the business sector and the availability of an advanced infrastructure for financial technologies, indicating that these factors make the country a prime destination for trade companies. Global electronic.
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