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ADDED, Masdar sign cooperation agreement

April 6, 2021
finance & economy

ABU DHABI, 5th April, 2021 (WAM) -- The Abu Dhabi Department of Economic Development (ADDED) has signed a cooperation 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 noted 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.

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. In case the complainant is a free zone establishment, the relevant procedures against it including seizure, incident statement, reconciliation request, violation report and/or notification, will be taken by Masdar. However, in case the complaint is related to a branch within the free zone and its head office is situated within the department’s jurisdiction, it is entitled to address the complaint directly to the head office.

Under the agreement, Masdar delegates the 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.

The agreement also stated that goods that are seized or controlled will not be released from Masdar’s free zone until the incident is settled either through reconciliation or judicial order. The department’s officers who are tasked with judicial control will be authorized to access the commercial facilities registered with Masdar.

Moreover, the agreement enables Masdar to issue a final decision on the temporary closure of the violating facility within its jurisdiction according to a recommendation by ADDED. The agreement also provides for a joint regulation to several relevant clauses between the department and Masdar such as raffles and awards through the implementation of the procedures applicable at the department in this regard. While Masdar issues the required permission thereof and appoints an officer to monitor raffles and electronic applications used, contacting winners and following up raffle results under the department’s procedures and regulations.

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